SmarTrend Watching for Potential Rebound in Shares of iShares S&P 500 Index Fund After 2.81% Loss
iShares S&P 500 Index Fund (NYSE:IVV) traded in a range yesterday that spanned from a low of $204.58 to a high of $208.06. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $208.96 on volume of 6.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of iShares S&P 500 Index Fund on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $201.25. Since that recommendation, shares of iShares S&P 500 Index Fund have risen 5.3%. We continue to monitor IVV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, iShares S&P 500 Index Fund has traded in a range of $147.21 to $215.23 and is now at $206.12, 40% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.
Keywords: rebounders ishares s&p 500 index fund