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Bullish Moving Average Cross by ProShares Ultra QQQ (QLD)

By Amy Schwartz

ProShares Ultra QQQ (AMEX:QLD) crossed over its 10-day moving average of $83.83 on a volume of 194K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, ProShares Ultra QQQ share prices have been bracketed by a low of $55.00 and a high of $155.04 and are now at $84.51, 54% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra QQQ on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.40. Since that recommendation, shares of ProShares Ultra QQQ have risen 15.4%. We continue to monitor QLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:qld proshares ultra qqq

Ticker(s): QLD