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ProShares UltraPro S&P 500 Bearish Moving Average Crossover Alert (UPRO)

By David Diaz

ProShares UltraPro S&P 500 (NYSE:UPRO) shares have crossed bearishly below their 10-day moving average of $73.56 on a volume of 283K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

ProShares UltraPro S&P 500 share prices have moved between a 52-week high of $146.89 and a 52-week low of $42.98 and are now trading 71% above that low price at $73.36 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of ProShares UltraPro S&P 500 on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.06. Since that recommendation, shares of ProShares UltraPro S&P 500 have risen 9.9%. We continue to monitor UPRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses proshares ultrapro s&p 500

Ticker(s): UPRO