ProShares UltraShort DJ-UBS Crude Oil Bearish Moving Average Crossover Alert (SCO)
Today, shares of ProShares UltraShort DJ-UBS Crude Oil (NYSE:SCO) have crossed bearishly below their 10-day moving average of $84.72 on a volume of 321K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, ProShares UltraShort DJ-UBS Crude Oil has traded in a range of $50.90 to $243.67 and is now at $84.16, 65% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 4.7%.
SmarTrend recommended that its subscribers protect gains by selling shares of ProShares UltraShort DJ-UBS Crude Oil on August 8th, 2016 by issuing a Downtrend alert when the shares were trading at $101.37. Since that call, shares of ProShares UltraShort DJ-UBS Crude Oil have fallen 15.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses proshares ultrashort dj-ubs crude oil