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SmarTrend Watching for Potential Pullback in Shares of iShares Russell 2000 Index Fund After 1.18% Gain

By James Quinn

iShares Russell 2000 Index Fund (AMEX:IWM) traded in a range yesterday that spanned from a low of $122.43 to a high of $123.63. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $122.60 on volume of 9.9 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 Russell 2000 Index Fund have traded between a low of $93.64 and a high of $129.10 and are now at $123.53, which is 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of iShares Russell 2000 Index Fund on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.95. Since that recommendation, shares of iShares Russell 2000 Index Fund have risen 3.6%. We continue to monitor IWM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders amex:iwm ishares russell 2000 index fund

Ticker(s): IWM