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ProShares Ultra QQQ Bearish Moving Average Crossover Alert (QLD)

By Nick Russo

Today, shares of ProShares Ultra QQQ (AMEX:QLD) have crossed bearishly below their 10-day moving average of $83.81 on a volume of 391K shares. Swing traders may find 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 Ultra QQQ have traded between a low of $55.00 and a high of $155.04 and are now at $83.46, which is 52% 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 16.2%. 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