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Watch for Shares of Rydex 2x S&P 500 ETF (RSU) to Approach Support at $30.31

Written on Thu, 06/24/2010 - 11:33am
By Chip Brian

SmarTrend has detected shares of Rydex 2x S&P 500 ETF (NYSE:RSU) have bearishly opened below the pivot of $31.04 today and have reached the first level of support of $30.67.
Should the shares continue to fall, we are monitoring the next support pivots of $30.31 and $29.58. Also, the shares are currently trading below the 50-day moving average of $33.72 and below the 200-day moving average of $32.51.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Rydex 2x S&P 500 ETF on May 06, 2010 at $31.50. Since the call, the stock has fallen 3.5%.

Keywords: rydex 2x s&p 500 etf pivot points

Ticker(s): RSU

Contact Chip Brian



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