Watch for iPATH S&P 500 VIX Short-Term Futures ETN to Potentially Rebound After Falling 2.19% Yesterday
iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $15.56 to a high of $15.85. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $15.90 on volume of 27.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that its subscribers protect gains by selling shares of iPATH S&P 500 VIX Short-Term Futures ETN on February 22nd, 2016 by issuing a Downtrend alert when the shares were trading at $24.37. Since that call, shares of iPATH S&P 500 VIX Short-Term Futures ETN have fallen 34.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, iPATH S&P 500 VIX Short-Term Futures ETN share prices have been bracketed by a low of $15.10 and a high of $31.48 and are now at $15.73, 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.5% while the 200-day MA has remained constant.
Keywords: rebounders ipath s&p 500 vix short-term futures etn