SmarTrend Watching for Potential Rebound in Shares of Market Vectors Junior Gold Miners After 1.15% Loss
Market Vectors Junior Gold Miners (NASDAQ:GDXJ) traded in a range yesterday that spanned from a low of $47.99 to a high of $49.00. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $48.00 on volume of 3.6 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 Junior Gold Miners share prices have been bracketed by a low of $16.87 and a high of $50.29 and are now at $48.07, 185% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.2% while the 200-day MA has risen 1.4%.
SmarTrend recommended that subscribers consider buying shares of Market Vectors Junior Gold Miners on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.02. Since that recommendation, shares of Market Vectors Junior Gold Miners have risen 31.7%. We continue to monitor GDXJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders market vectors junior gold miners