ProShares UltraShort 20+ Year Treasury Set to Possibly Rebound After Yesterday's Selloff of 3.12%
ProShares UltraShort 20+ Year Treasury (NYSE:TBT) traded in a range yesterday that spanned from a low of $29.76 to a high of $30.30. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $30.76 on volume of 2.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, ProShares UltraShort 20+ Year Treasury share prices have been bracketed by a current low of $29.81 and a high of $52.25 and are now at $29.81. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of ProShares UltraShort 20+ Year Treasury on May 5th, 2016 by issuing a Downtrend alert when the shares were trading at $36.49. Since that call, shares of ProShares UltraShort 20+ Year Treasury have fallen 15.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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