SmarTrend Watching for Potential Pullback in Shares of ProShares UltraPro S&P 500 After 2.89% Gain
ProShares UltraPro S&P 500 (NYSE:UPRO) traded in a range yesterday that spanned from a low of $63.96 to a high of $65.17. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $63.73 on volume of 985,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend is monitoring the recent change of momentum in ProShares UltraPro S&P 500. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ProShares UltraPro S&P 500 in search of a potential trend change.
In the past 52 weeks, ProShares UltraPro S&P 500 share prices have been bracketed by a low of $42.98 and a high of $146.89 and are now at $65.04, 51% above that low price. 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%.
Keywords: rebounders proshares ultrapro s&p 500