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Look for Shares of ProShares Ultra DJ-UBS Crude Oil to Potentially Rebound after Yesterday's 3.99% Sell Off

By James Quinn

ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) traded in a range yesterday that spanned from a low of $16.89 to a high of $17.48. Yesterday, the shares fell 4.0%, which took the trading range below the 3-day low of $17.60 on volume of 8.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra DJ-UBS Crude Oil on November 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.14. Since that recommendation, shares of ProShares Ultra DJ-UBS Crude Oil have risen 75.4%. We continue to monitor UCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, ProShares Ultra DJ-UBS Crude Oil share prices have been bracketed by a low of $5.98 and a high of $49.78 and are now at $17.07, 185% 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.

Keywords: rebounders proshares ultra dj-ubs crude oil

Ticker(s): UCO