After Yesterday's Rally of 1.00% Shares Could Potentially Pullback
ProShares UltraPro S&P 500 (NYSE:UPRO) traded in a range yesterday that spanned from a low of $71.69 to a high of $72.36. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $71.70 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 67% above that low price at $71.88 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 is tracking the current trend status for ProShares UltraPro S&P 500 and will alert subscribers who have UPRO in their portfolio or watchlist when shares have changed trend direction.
Keywords: rebounders proshares ultrapro s&p 500