After Yesterday's Rally of 1.61% Shares Could Potentially Pullback
ProShares UltraShort 20+ Year Treasury (NYSE:TBT) traded in a range yesterday that spanned from a low of $31.01 to a high of $31.39. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $31.20 on volume of 1.9 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 UltraShort 20+ Year Treasury share prices have moved between a 52-week high of $52.25 and a 52-week low of $29.45 and are now trading 6% above that low price at $31.26 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.6%.
SmarTrend is tracking the current trend status for ProShares UltraShort 20+ Year Treasury and will alert subscribers who have TBT in their portfolio or watchlist when shares have changed trend direction.
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