SmarTrend Watching for Potential Rebound in Shares of VelocityShares Daily Inverse VIX ST ETN After 1.44% Loss
VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $36.82 to a high of $37.47. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $36.86 on volume of 9.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
VelocityShares Daily Inverse VIX ST ETN share prices have moved between a 52-week high of $50.10 and a 52-week low of $15.36 and are now trading 141% above that low price at $37.08 per share. The 200-day and 50-day moving averages have moved 1.49% lower and 2.61% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of VelocityShares Daily Inverse VIX ST ETN on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.21. Since that recommendation, shares of VelocityShares Daily Inverse VIX ST ETN have risen 43.4%. We continue to monitor XIV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders velocityshares daily inverse vix st etn