SPDR KBW Regional Banking ETF Set to Possibly Rebound After Yesterday's Selloff of 1.66%
SPDR KBW Regional Banking ETF (AMEX:KRE) traded in a range yesterday that spanned from a low of $42.14 to a high of $43.11. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $42.33 on volume of 5.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, SPDR KBW Regional Banking ETF has traded in a range of $32.63 to $46.33 and is now at $42.41, 30% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.
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 6.8%. 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