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SPDR KBW Regional Banking ETF Set to Possibly Rebound After Yesterday's Selloff of 1.27%

By Shiri Gupta

SPDR KBW Regional Banking ETF (AMEX:KRE) traded in a range yesterday that spanned from a low of $57.25 to a high of $58.01. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $57.75 on volume of 1.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SPDR KBW Regional Banking ETF share prices have moved between a 52-week high of $59.68 and a 52-week low of $32.63 and are now trading 76% above that low price at $57.36 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of SPDR KBW Regional Banking ETF on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.33. Since that recommendation, shares of SPDR KBW Regional Banking ETF have risen 44.3%. We continue to monitor KRE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders amex:kre spdr kbw regional banking etf

Ticker(s): KRE