VelocityShares Daily Inverse VIX ST ETN Set to Possibly Pullback After Yesterday's Rally of 1.77%
VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $33.62 to a high of $34.10. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $33.58 on volume of 11.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of VelocityShares Daily Inverse VIX ST ETN on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.84. Since that recommendation, shares of VelocityShares Daily Inverse VIX ST ETN have risen 68.4%. We continue to monitor XIV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, VelocityShares Daily Inverse VIX ST ETN share prices have been bracketed by a low of $15.36 and a high of $50.10 and are now at $33.91, 121% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 2.6%.
Keywords: rebounders velocityshares daily inverse vix st etn