Look for Shares of ProShares Ultra DJ-UBS Crude Oil to Potentially Pullback after Yesterday's 2.31% Rise
ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) traded in a range yesterday that spanned from a low of $9.36 to a high of $9.78. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $9.52 on volume of 5.0 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 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.
ProShares Ultra DJ-UBS Crude Oil share prices have moved between a 52-week high of $49.78 and a 52-week low of $5.98 and are now trading 63% above that low price at $9.75 per share. Over the last five market days, the 200-day moving average (MA) has gone down 2.6% while the 50-day MA has advanced 3.1%.
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