SmarTrend Watching for Potential Rebound in Shares of Market Vectors - Gold Miners ETF After 3.54% Loss
Market Vectors - Gold Miners ETF (AMEX:GDX) traded in a range yesterday that spanned from a low of $29.70 to a high of $30.52. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $30.64 on volume of 32.4 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 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 24.6%. We continue to monitor GDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Market Vectors - Gold Miners ETF share prices have moved between a 52-week high of $31.79 and a 52-week low of $12.40 and are now trading 140% above that low price at $29.75 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has risen 1.2%.
Keywords: rebounders amex:gdx market vectors - gold miners etf