SmarTrend Watching for Potential Rebound in Shares of iShares Russell 2000 Index Fund After 1.82% Loss
iShares Russell 2000 Index Fund (AMEX:IWM) traded in a range yesterday that spanned from a low of $110.93 to a high of $112.56. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $111.72 on volume of 20.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, iShares Russell 2000 Index Fund share prices have been bracketed by a low of $93.64 and a high of $129.10 and are now at $111.45, 19% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.2%.
SmarTrend recommended that subscribers consider buying shares of iShares Russell 2000 Index Fund on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $100.31. Since that recommendation, shares of iShares Russell 2000 Index Fund have risen 13.1%. 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