Bearish Moving Average Cross by ProShares Ultra Nasdaq Biotechnology ETF (BIB)
Today, shares of ProShares Ultra Nasdaq Biotechnology ETF (NASDAQ:BIB) have fallen below their 10-day MA of $38.00 on a volume of 129K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of ProShares Ultra Nasdaq Biotechnology ETF have traded between a low of $33.97 and a high of $174.48 and are now at $37.85, which is 11% above that low price. The 200-day and 50-day moving averages have moved 2.01% lower and 0.02% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of ProShares Ultra Nasdaq Biotechnology ETF on June 10th, 2016 by issuing a Downtrend alert when the shares were trading at $42.61. Since that call, shares of ProShares Ultra Nasdaq Biotechnology ETF have fallen 9.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses proshares ultra nasdaq biotechnology etf