ProShares UltraShort DJ-UBS Crude Oil Crosses Above its 10-day MA (SCO)
Today, shares of ProShares UltraShort DJ-UBS Crude Oil (NYSE:SCO) have advanced above their 10-day MA of $82.38 on a volume of 255K shares. This may provide swing traders with an opportunity 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 $50.90 and a high of $243.67 and are now at $84.80, 67% above that low price. Over the past week, 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 April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $119.35. Since that call, shares of ProShares UltraShort DJ-UBS Crude Oil have fallen 31.5%. 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