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Bullish Moving Average Cross by ProShares Ultra S&P500 (SSO)

By David Diaz

ProShares Ultra S&P500 (AMEX:SSO) shares have crossed bullishly above their 10-day moving average of $71.64 on a volume of 1.1 million 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.

ProShares Ultra S&P500 share prices have moved between a 52-week high of $138.00 and a 52-week low of $49.31 and are now trading 46% above that low price at $72.00 per share. The 200-day and 50-day moving averages have moved 0.15% lower and 1.02% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra S&P500 on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.79. Since that recommendation, shares of ProShares Ultra S&P500 have risen 5.0%. We continue to monitor SSO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:sso proshares ultra s&p500

Ticker(s): SSO