SmarTrend Watching for Potential Rebound in Shares of Market Vectors - Gold Miners ETF After 1.42% Loss
Market Vectors - Gold Miners ETF (AMEX:GDX) traded in a range yesterday that spanned from a low of $24.91 to a high of $25.70. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $25.22 on volume of 30.7 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, Market Vectors - Gold Miners ETF share prices have been bracketed by a low of $12.40 and a high of $27.03 and are now at $25.45, 105% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.2%.
SmarTrend recommended that subscribers consider buying shares of Market Vectors - Gold Miners ETF on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.72. Since that recommendation, shares of Market Vectors - Gold Miners ETF have risen 4.3%. We continue to monitor GDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders amex:gdx market vectors - gold miners etf