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Look for Shares of SPDR Gold Trust to Potentially Rebound after Yesterday's 1.10% Sell Off
Jan 24, 2013 (SmarTrend(R) News Watch via COMTEX) --
SPDR Gold Trust (NYSE:GLD) traded in a range yesterday that spanned from a low of $161.18 to a high of $162.27. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $163.00 on volume of 13.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
In the past 52 weeks, SPDR Gold Trust share prices have been bracketed by a low of $148.53 and a high of $174.07 and are now at $161.42, 9% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 0.09% lower over the past week, respectively.
SmarTrend is tracking the current trend status for SPDR Gold Trust and will alert subscribers who have GLD in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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