SmarTrend Watching for Potential Pullback in Shares of iShares Silver Trust After 1.15% Gain
iShares Silver Trust (AMEX:SLV) traded in a range yesterday that spanned from a low of $16.62 to a high of $16.80. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $16.69 on volume of 4.7 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 Silver Trust have traded between a low of $13.04 and a high of $19.71 and are now at $16.80, which is 29% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.1%.
SmarTrend recommended that its subscribers protect gains by selling shares of iShares Silver Trust on August 22nd, 2016 by issuing a Downtrend alert when the shares were trading at $17.97. Since that call, shares of iShares Silver Trust have fallen 7.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders amex:slv ishares silver trust