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SmarTrend Watching for Potential Pullback in Shares of SPDR S&P Biotech ETF After 3.74% Gain

By Amy Schwartz

SPDR S&P Biotech ETF (AMEX:XBI) traded in a range yesterday that spanned from a low of $72.27 to a high of $74.50. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $73.08 on volume of 2.5 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 is monitoring the recent change of momentum in SPDR S&P Biotech ETF. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of SPDR S&P Biotech ETF in search of a potential trend change.

In the past 52 weeks, SPDR S&P Biotech ETF share prices have been bracketed by a low of $44.16 and a high of $91.11 and are now at $74.16, 68% above that low price. The 200-day and 50-day moving averages have moved 1.16% lower and 0.43% higher over the past week, respectively.

Keywords: rebounders amex:xbi spdr s&p biotech etf

Ticker(s): XBI