Bearish Moving Average Cross by ProShares UltraPro S&P 500 (UPRO)
Today, shares of ProShares UltraPro S&P 500 (NYSE:UPRO) have crossed bearishly below their 10-day moving average of $75.16 on a volume of 492K 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 UltraPro S&P 500 have traded between a low of $42.98 and a high of $146.89 and are now at $74.74, which is 74% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.3%.
SmarTrend recommended that subscribers consider buying shares of ProShares UltraPro S&P 500 on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.06. Since that recommendation, shares of ProShares UltraPro S&P 500 have risen 12.9%. We continue to monitor UPRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses proshares ultrapro s&p 500