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Bearish Moving Average Cross by ProShares UltraPro S&P 500 (UPRO)

By Amy Schwartz

Today, shares of ProShares UltraPro S&P 500 (NYSE:UPRO) have fallen below their 10-day MA of $70.81 on a volume of 647K 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.

ProShares UltraPro S&P 500 share prices have moved between a 52-week high of $146.89 and a 52-week low of $42.98 and are now trading 64% above that low price at $70.32 per share. The 200-day and 50-day moving averages have moved 0.3% lower and 1.50% higher over the past week, respectively.

SmarTrend is tracking the current trend status for ProShares UltraPro S&P 500 and will alert subscribers who have UPRO in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses proshares ultrapro s&p 500

Ticker(s): UPRO