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ProShares Ultra QQQ Crosses Above its 10-day MA (QLD)

By Nick Russo

ProShares Ultra QQQ (AMEX:QLD) crossed over its 10-day moving average of $85.38 on a volume of 347K 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, shares of ProShares Ultra QQQ have traded between a low of $55.00 and a high of $155.04 and are now at $85.58, which is 56% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.4%.

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 15.7%. 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