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Watch for iShares Russell 2000 Growth Index Fund to Potentially Pullback After Gaining 1.06% Yesterday

By James Quinn

iShares Russell 2000 Growth Index Fund (AMEX:IWO) traded in a range yesterday that spanned from a low of $160.63 to a high of $162.18. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $161.46 on volume of 603,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, iShares Russell 2000 Growth Index Fund has traded in a range of $111.51 to $163.50 and is now at $161.96, 45% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.7%.

SmarTrend is tracking the current trend status for iShares Russell 2000 Growth Index Fund and will alert subscribers who have IWO in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders amex:iwo ishares russell 2000 growth index fund

Ticker(s): IWO