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ProShares UltraShort DJ-UBS Crude Oil Bullish Moving Average Crossover Alert (SCO)

By Nick Russo

ProShares UltraShort DJ-UBS Crude Oil (NYSE:SCO) shares have crossed bullishly above their 10-day moving average of $31.59 on a volume of 484K 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.

In the past 52 weeks, ProShares UltraShort DJ-UBS Crude Oil share prices have been bracketed by a low of $26.51 and a high of $45.99 and are now at $31.74, 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of ProShares UltraShort DJ-UBS Crude Oil on December 4th, 2013 by issuing a Downtrend alert when the shares were trading at $32.77. Since that call, shares of ProShares UltraShort DJ-UBS Crude Oil have fallen 4.7%. 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

Ticker(s): SCO