• Return to Headlines

SmarTrend Watching for Potential Pullback in Shares of ProShares Ultra S&P500 After 1.48% Gain

By Amy Schwartz

ProShares Ultra S&P500 (AMEX:SSO) traded in a range yesterday that spanned from a low of $83.32 to a high of $84.40. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $84.15 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of ProShares Ultra S&P500 on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $71.04. Since that recommendation, shares of ProShares Ultra S&P500 have risen 17.0%. We continue to monitor SSO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, ProShares Ultra S&P500 share prices have been bracketed by a low of $49.31 and a high of $138.00 and are now at $84.30, 71% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.

Keywords: rebounders amex:sso proshares ultra s&p500

Ticker(s): SSO