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Watch for VelocityShares Daily Inverse VIX ST ETN to Potentially Pullback After Gaining 9.48% Yesterday

By Nick Russo

VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $70.64 to a high of $72.78. Yesterday, the shares gained 9.5%, which took the trading range above the 3-day high of $67.80 on volume of 10.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in VelocityShares Daily Inverse VIX ST ETN. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of VelocityShares Daily Inverse VIX ST ETN in search of a potential trend change.

Over the past year, VelocityShares Daily Inverse VIX ST ETN has traded in a range of $15.36 to $75.48 and is now at $72.55, 372% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 2.6%.

Keywords: rebounders velocityshares daily inverse vix st etn

Ticker(s): XIV