SmarTrend Watching for Potential Pullback in Shares of Market Vectors - Gold Miners ETF After 2.95% Gain
Market Vectors - Gold Miners ETF (AMEX:GDX) traded in a range yesterday that spanned from a low of $26.54 to a high of $27.04. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $26.41 on volume of 21.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Market Vectors - Gold Miners ETF on August 24th, 2016 by issuing a Downtrend alert when the shares were trading at $27.74. Since that call, shares of Market Vectors - Gold Miners ETF have fallen 6.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, shares of Market Vectors - Gold Miners ETF have traded between a low of $12.40 and a high of $31.79 and are now at $26.95, which is 117% above that low price. The 200-day and 50-day moving averages have moved 1.19% higher and 2.19% higher over the past week, respectively.
Keywords: rebounders amex:gdx market vectors - gold miners etf