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After Yesterday's Rally of 6.25% Shares Could Potentially Pullback

By Nick Russo

ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) traded in a range yesterday that spanned from a low of $15.71 to a high of $16.48. Yesterday, the shares gained 6.2%, which took the trading range above the 3-day high of $15.94 on volume of 8.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, ProShares Ultra DJ-UBS Crude Oil has traded in a range of $5.98 to $49.78 and is now at $16.35, 173% above that low. The 200-day and 50-day moving averages have moved 2.65% lower and 3.06% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in ProShares Ultra DJ-UBS Crude Oil. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ProShares Ultra DJ-UBS Crude Oil in search of a potential trend change.

Keywords: rebounders proshares ultra dj-ubs crude oil

Ticker(s): UCO