Downtrend Call Working As Market Vectors - Gold Miners ETF Stock Falls 13.6% (GDX)
SmarTrend identified a Downtrend for Market Vectors - Gold Miners ETF (AMEX:GDX) on October 15th, 2012 at $51.25. In approximately 3 months, Market Vectors - Gold Miners ETF has returned 13.62% as of today's recent price of $44.26.
Over the past year, Market Vectors - Gold Miners ETF has traded in a range of $39.08 to $57.94 and is now at $44.26, 13% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.9%.
Market Vectors Gold Miners ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the price and yield of the Amex Gold Miners Index.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Market Vectors - Gold Miners ETF.
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Keywords: spotlights amex:gdx market vectors - gold miners etf