After Yesterday's Rally of 2.12% Shares Could Potentially Pullback
ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) traded in a range yesterday that spanned from a low of $10.33 to a high of $10.65. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $10.53 on volume of 4.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend is tracking the current trend status for ProShares Ultra DJ-UBS Crude Oil and will alert subscribers who have UCO in their portfolio or watchlist when shares have changed trend direction.
In the past 52 weeks, ProShares Ultra DJ-UBS Crude Oil share prices have been bracketed by a low of $5.98 and a high of $49.78 and are now at $10.64, 78% above that low price. The 200-day and 50-day moving averages have moved 2.65% lower and 3.06% higher over the past week, respectively.
Keywords: rebounders proshares ultra dj-ubs crude oil