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Watch for VelocityShares Daily Inverse VIX ST ETN to Potentially Rebound After Falling 3.14% Yesterday

By Shiri Gupta

VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $69.80 to a high of $72.15. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $70.85 on volume of 10.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

VelocityShares Daily Inverse VIX ST ETN share prices have moved between a 52-week high of $75.48 and a 52-week low of $15.36 and are now trading 357% above that low price at $70.23 per share. 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 November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.54. Since that recommendation, shares of VelocityShares Daily Inverse VIX ST ETN have risen 87.6%. 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

Ticker(s): XIV