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ProShares UltraPro S&P 500 Set to Possibly Pullback After Yesterday's Rally of 2.15%

By Shiri Gupta

ProShares UltraPro S&P 500 (NYSE:UPRO) traded in a range yesterday that spanned from a low of $106.29 to a high of $107.71. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $106.61 on volume of 756,000 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 UltraPro S&P 500 has traded in a range of $42.98 to $146.89 and is now at $107.42, 150% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.3%.

SmarTrend recommended that subscribers consider buying shares of ProShares UltraPro S&P 500 on April 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $99.01. Since that recommendation, shares of ProShares UltraPro S&P 500 have risen 6.2%. We continue to monitor UPRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders proshares ultrapro s&p 500

Ticker(s): UPRO