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After Yesterday's Rally of 1.48% Shares Could Potentially Pullback

By James Quinn

ProShares UltraPro QQQ (NASDAQ:TQQQ) traded in a range yesterday that spanned from a low of $86.90 to a high of $87.82. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $86.68 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of ProShares UltraPro QQQ have traded between a low of $65.30 and a high of $141.82 and are now at $87.28, which is 34% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.7%.

SmarTrend is tracking the current trend status for ProShares UltraPro QQQ and will alert subscribers who have TQQQ in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders proshares ultrapro qqq

Ticker(s): TQQQ