After Yesterday's Rally of 2.09% Shares Could Potentially Pullback
ProShares UltraPro QQQ (NASDAQ:TQQQ) traded in a range yesterday that spanned from a low of $108.11 to a high of $110.68. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $109.41 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.
In the past 52 weeks, ProShares UltraPro QQQ share prices have been bracketed by a low of $65.30 and a high of $128.78 and are now at $110.38, 69% above that low price. The 200-day and 50-day moving averages have moved 0.64% lower and 0.67% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of ProShares UltraPro QQQ on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $97.43. Since that recommendation, shares of ProShares UltraPro QQQ have risen 10.8%. We continue to monitor TQQQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders proshares ultrapro qqq