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SmarTrend Watching for Potential Pullback in Shares of iShares Dow Jones US Homenstruction Index Fund After 2.85% Gain

By Nick Russo

iShares Dow Jones US Homenstruction Index Fund (NYSE:ITB) traded in a range yesterday that spanned from a low of $28.87 to a high of $29.60. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $28.77 on volume of 2.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of iShares Dow Jones US Homenstruction Index Fund have traded between a low of $21.61 and a high of $30.00 and are now at $29.53, which is 37% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for iShares Dow Jones US Homenstruction Index Fund and will alert subscribers who have ITB in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders ishares dow jones us homenstruction index fund

Ticker(s): ITB