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ProShares Ultra Nasdaq Biotechnology ETF Crosses Above its 10-day MA (BIB)

By Amy Schwartz

Today, shares of ProShares Ultra Nasdaq Biotechnology ETF (NASDAQ:BIB) have advanced above their 10-day MA of $41.33 on a volume of 158K 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 Nasdaq Biotechnology ETF share prices have moved between a 52-week high of $174.48 and a 52-week low of $33.97 and are now trading 22% above that low price at $41.43 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 2%.

SmarTrend recommended that its subscribers protect gains by selling shares of ProShares Ultra Nasdaq Biotechnology ETF on October 7th, 2016 by issuing a Downtrend alert when the shares were trading at $46.42. Since that call, shares of ProShares Ultra Nasdaq Biotechnology ETF have fallen 12.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses proshares ultra nasdaq biotechnology etf

Ticker(s): BIB