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.
In the past 52 weeks, Semiconductor HOLDRs Trust share prices have been bracketed by a low of $43.53 and a high of $70.21 and are now at $68.03, 56% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.
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.
Keywords: rebounders amex:smh semiconductor holdrs trust