Watch for VelocityShares Daily Inverse VIX ST ETN to Potentially Pullback After Gaining 2.93% Yesterday
VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $40.98 to a high of $41.50. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $40.17 on volume of 6.0 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, VelocityShares Daily Inverse VIX ST ETN share prices have been bracketed by a low of $15.36 and a high of $50.10 and are now at $41.37, 169% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has slid 1.5%.
SmarTrend recommended that subscribers consider buying shares of VelocityShares Daily Inverse VIX ST ETN on September 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.13. Since that recommendation, shares of VelocityShares Daily Inverse VIX ST ETN have risen 5.1%. We continue to monitor XIV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders velocityshares daily inverse vix st etn