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VelocityShares Daily Inverse VIX ST ETN Set to Possibly Pullback After Yesterday's Rally of 3.08%

By James Quinn

VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $83.70 to a high of $85.26. Yesterday, the shares gained 3.1%, which took the trading range above the 3-day high of $82.97 on volume of 4.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of VelocityShares Daily Inverse VIX ST ETN have traded between a low of $15.36 and a high of $85.26 and are now at $85.00, which is 453% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 2.6%.

SmarTrend recommended that subscribers consider buying shares of VelocityShares Daily Inverse VIX ST ETN on April 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.07. Since that recommendation, shares of VelocityShares Daily Inverse VIX ST ETN have risen 14.4%. 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

Ticker(s): XIV