SmarTrend Watching for Potential Rebound in Shares of Semiconductor HOLDRs Trust After 1.89% Loss
Semiconductor HOLDRs Trust (AMEX:SMH) traded in a range yesterday that spanned from a low of $67.82 to a high of $69.28. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $68.78 on volume of 1.7 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 Semiconductor HOLDRs Trust on June 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.72. Since that recommendation, shares of Semiconductor HOLDRs Trust have risen 22.3%. We continue to monitor SMH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Semiconductor HOLDRs Trust share prices have moved between a 52-week high of $70.21 and a 52-week low of $43.53 and are now trading 56% above that low price at $68.03 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.
Keywords: rebounders amex:smh semiconductor holdrs trust