Watch for iShares Dow Jones US Homenstruction Index Fund to Potentially Rebound After Falling 1.72% Yesterday
iShares Dow Jones US Homenstruction Index Fund (NYSE:ITB) traded in a range yesterday that spanned from a low of $28.98 to a high of $29.61. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $29.38 on volume of 2.6 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, iShares Dow Jones US Homenstruction Index Fund share prices have been bracketed by a low of $21.61 and a high of $30.00 and are now at $29.08, 35% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of iShares Dow Jones US Homenstruction Index Fund on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.33. Since that recommendation, shares of iShares Dow Jones US Homenstruction Index Fund have risen 4.4%. We continue to monitor ITB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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