After Yesterday's Rally of 2.91% Shares Could Potentially Pullback
ProShares UltraPro S&P 500 (NYSE:UPRO) traded in a range yesterday that spanned from a low of $67.02 to a high of $67.98. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $67.42 on volume of 1.3 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 UltraPro S&P 500 and will alert subscribers who have UPRO in their portfolio or watchlist when shares have changed trend direction.
Over the past year, ProShares UltraPro S&P 500 has traded in a range of $42.98 to $146.89 and is now at $67.87, 58% above that low. The 200-day and 50-day moving averages have moved 0.3% lower and 1.50% higher over the past week, respectively.
Keywords: rebounders proshares ultrapro s&p 500