Bearish Moving Average Cross by ProShares UltraPro Short Russell 2000 (SRTY)
ProShares UltraPro Short Russell 2000 (NYSE:SRTY) crossed under its 10-day moving average of $18.68 on a volume of 431K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, ProShares UltraPro Short Russell 2000 share prices have been bracketed by a low of $17.62 and a high of $48.31 and are now at $18.31, 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3% while the 200-day MA has risen 0.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of ProShares UltraPro Short Russell 2000 on July 8th, 2016 by issuing a Downtrend alert when the shares were trading at $22.54. Since that call, shares of ProShares UltraPro Short Russell 2000 have fallen 15.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses proshares ultrapro short russell 2000