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ProShares UltraPro QQQ Crosses Above its 10-day MA (TQQQ)

By Nick Russo

Today, shares of ProShares UltraPro QQQ (NASDAQ:TQQQ) have crossed bullishly above their 10-day moving average of $122.94 on a volume of 660K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of ProShares UltraPro QQQ have traded between a low of $65.30 and a high of $128.78 and are now at $124.35, which is 90% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of ProShares UltraPro QQQ on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $97.43. Since that recommendation, shares of ProShares UltraPro QQQ have risen 25.3%. We continue to monitor TQQQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses proshares ultrapro qqq

Ticker(s): TQQQ