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

By James Quinn

ProShares UltraPro QQQ (NASDAQ:TQQQ) shares have crossed bullishly above their 10-day moving average of $93.20 on a volume of 1.1 million 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, ProShares UltraPro QQQ share prices have been bracketed by a low of $65.30 and a high of $128.78 and are now at $94.15, 44% above that low price. The 200-day and 50-day moving averages have moved 0.64% lower and 0.67% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of ProShares UltraPro QQQ on April 27th, 2016 by issuing a Downtrend alert when the shares were trading at $96.63. Since that call, shares of ProShares UltraPro QQQ have fallen 5.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses proshares ultrapro qqq

Ticker(s): TQQQ