Market Overview

Volume Spike Detected in Shares of SPDR KBW Bank ETF as They Move Lower on 1x Above-Average Volume (KBE)

Share:
(via COMTEX News Network)--

Shares of SPDR KBW Bank ETF (AMEX: KBE) are trading down 1.7% to $23.08 today on above average volume. Approximately 8.2 million shares have traded hands today vs. average 30-day volume of 4.1 million shares.

Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of KBE to see if this bearish momentum will continue.

SmarTrend currently has shares of SPDR KBW Bank ETF in an Downtrend and issued the Downtrend alert on March 02, 2011 at $25.95. The stock has fallen 9.5% since the Downtrend alert was issued.

In the last five trading sessions, the 50-day MA has fallen 0.63% while the 200-day MA has remained constant.

In the past 52 weeks, shares of SPDR KBW Bank ETF have traded between a low of $21.19 and a high of $27.77 and are now at $23.15, which is 9% above that low price.

Write to Chip Brian at cbrian@mysmartrend.com

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