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Watch for iShares Russell 2000 Index Fund to Potentially Pullback After Gaining 1.10% Yesterday

By David Diaz

iShares Russell 2000 Index Fund (AMEX:IWM) traded in a range yesterday that spanned from a low of $136.15 to a high of $137.47. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $136.96 on volume of 12.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, iShares Russell 2000 Index Fund share prices have been bracketed by a low of $93.64 and a high of $140.86 and are now at $137.29, 47% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.

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

Keywords: rebounders amex:iwm ishares russell 2000 index fund

Ticker(s): IWM