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SPDR S&P Homebuilders ETF Set to Possibly Pullback After Yesterday's Rally of 1.10%
Mar 08, 2013 (SmarTrend(R) News Watch via COMTEX) --
SPDR S&P Homebuilders ETF (AMEX:XHB) traded in a range yesterday that spanned from a low of $29.10 to a high of $29.98. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $29.55 on volume of 5.5 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, SPDR S&P Homebuilders ETF share prices have been bracketed by a low of $18.93 and a high of $29.98 and are now at $29.51, 56% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.7%.
SmarTrend recommended that subscribers consider buying shares of SPDR S&P Homebuilders ETF on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.05. Since that recommendation, shares of SPDR S&P Homebuilders ETF have risen 12.1%. We continue to monitor XHB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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