Look for Shares of ProShares Ultra DJ-UBS Crude Oil to Potentially Pullback after Yesterday's 2.14% Rise
ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) traded in a range yesterday that spanned from a low of $10.18 to a high of $10.58. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $10.32 on volume of 5.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of ProShares Ultra DJ-UBS Crude Oil have traded between a low of $5.98 and a high of $49.78 and are now at $10.54, which is 76% 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.
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.
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