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ProShares Ultra S&P500 Crosses Above its 10-day MA (SSO)

By Amy Schwartz

ProShares Ultra S&P500 (AMEX:SSO) crossed over its 10-day moving average of $106.46 on a volume of 1.4 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.

Over the past year, ProShares Ultra S&P500 has traded in a range of $72.45 to $108.86 and is now at $106.65, 47% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.2%.

SmarTrend is tracking the current trend status for ProShares Ultra S&P500 and will alert subscribers who have SSO in their portfolio or watchlist when shares have changed trend direction.

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

Ticker(s): SSO