VelocityShares Daily Inverse VIX ST ETN Set to Possibly Rebound After Yesterday's Selloff of 3.55%
VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $20.21 to a high of $21.59. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $21.27 on volume of 37.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
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 $50.10 and are now at $20.96, which is 36% 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 is monitoring the recent change of momentum in VelocityShares Daily Inverse VIX ST ETN. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of VelocityShares Daily Inverse VIX ST ETN in search of a potential trend change.
Keywords: rebounders velocityshares daily inverse vix st etn