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After Yesterday's Rally of 1.58% Shares Could Potentially Pullback

By James Quinn

ProShares Ultra QQQ (AMEX:QLD) traded in a range yesterday that spanned from a low of $123.01 to a high of $124.62. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $122.64 on volume of 274,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra QQQ on November 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.71. Since that recommendation, shares of ProShares Ultra QQQ have risen 44.8%. We continue to monitor QLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

ProShares Ultra QQQ share prices have moved between a 52-week high of $155.04 and a 52-week low of $55.00 and are now trading 126% above that low price at $124.50 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

Keywords: rebounders amex:qld proshares ultra qqq

Ticker(s): QLD