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ProShares Ultra DJ-UBS Crude Oil Set to Possibly Rebound After Yesterday's Selloff of 7.53%

By Amy Schwartz

ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) traded in a range yesterday that spanned from a low of $15.16 to a high of $15.98. Yesterday, the shares fell 7.5%, which took the trading range below the 3-day low of $16.30 on volume of 10.5 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 63.7%. 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 $15.24, 155% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has slid 2.6%.

Keywords: rebounders proshares ultra dj-ubs crude oil

Ticker(s): UCO