After Yesterday's Rally of 2.46% Shares Could Potentially Pullback
ProShares Ultra S&P500 (AMEX:SSO) traded in a range yesterday that spanned from a low of $67.12 to a high of $68.05. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $67.03 on volume of 2.4 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 Ultra S&P500 share prices have moved between a 52-week high of $138.00 and a 52-week low of $49.31 and are now trading 38% above that low price at $67.99 per share. The 200-day and 50-day moving averages have moved 0.15% lower and 1.02% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in ProShares Ultra S&P500. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ProShares Ultra S&P500 in search of a potential trend change.
Keywords: rebounders amex:sso proshares ultra s&p500