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SmarTrend Watching for Potential Rebound in Shares of SPDR S&P Metals & Mining ETF After 1.17% Loss

By James Quinn

SPDR S&P Metals & Mining ETF (AMEX:XME) traded in a range yesterday that spanned from a low of $23.53 to a high of $24.13. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $23.55 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.

SmarTrend is tracking the current trend status for SPDR S&P Metals & Mining ETF and will alert subscribers who have XME in their portfolio or watchlist when shares have changed trend direction.

SPDR S&P Metals & Mining ETF share prices have moved between a 52-week high of $38.26 and a 52-week low of $11.38 and are now trading 108% above that low price at $23.67 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has risen 0.2%.

Keywords: rebounders amex:xme spdr s&p metals & mining etf

Ticker(s): XME