SmarTrend Watching for Potential Rebound in Shares of Market Vectors - Russia ETF After 1.77% Loss
Market Vectors - Russia ETF (NYSE:RSX) traded in a range yesterday that spanned from a low of $17.77 to a high of $18.04. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $17.95 on volume of 4.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, Market Vectors - Russia ETF has traded in a range of $11.81 to $20.84 and is now at $17.79, 51% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Market Vectors - Russia ETF on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.07. Since that recommendation, shares of Market Vectors - Russia ETF have risen 28.7%. We continue to monitor RSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders market vectors - russia etf