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After Yesterday's Rally of 1.50% Shares Could Potentially Pullback

By James Quinn

ProShares Ultra QQQ (AMEX:QLD) traded in a range yesterday that spanned from a low of $75.28 to a high of $76.03. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $74.89 on volume of 657,000 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 Ultra QQQ have traded between a low of $55.00 and a high of $155.04 and are now at $75.96, which is 38% 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 advanced 0.5%.

SmarTrend is monitoring the recent change of momentum in ProShares Ultra QQQ. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ProShares Ultra QQQ in search of a potential trend change.

Keywords: rebounders amex:qld proshares ultra qqq

Ticker(s): QLD