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After Yesterday's Decline of 4.98%, ProShares Ultra DJ-UBS Crude Oil Offers Investors Better Value

By Amy Schwartz

ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) traded in a range yesterday that spanned from a low of $17.71 to a high of $18.71. Yesterday, the shares fell 5.0%, which took the trading range below the 3-day low of $18.59 on volume of 6.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

ProShares Ultra DJ-UBS Crude Oil share prices have moved between a 52-week high of $49.78 and a 52-week low of $5.98 and are now trading 200% above that low price at $17.95 per share. Over the past week, the 200-day moving average (MA) has gone down 2.6% while the 50-day MA has advanced 3.1%.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra DJ-UBS Crude Oil on November 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.14. Since that recommendation, shares of ProShares Ultra DJ-UBS Crude Oil have risen 84.3%. We continue to monitor UCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders proshares ultra dj-ubs crude oil

Ticker(s): UCO