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SmarTrend Watching for Potential Rebound in Shares of Market Vectors - Russia ETF After 1.69% Loss

By David Diaz

Market Vectors - Russia ETF (NYSE:RSX) traded in a range yesterday that spanned from a low of $16.53 to a high of $16.87. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $16.66 on volume of 4.4 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 $16.61, 41% 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 1.4%.

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 19.9%. 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

Ticker(s): RSX