SmarTrend Watching for Potential Pullback in Shares of ProShares UltraShort 20+ Year Treasury After 1.36% Gain
ProShares UltraShort 20+ Year Treasury (NYSE:TBT) traded in a range yesterday that spanned from a low of $33.30 to a high of $33.81. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $33.64 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, ProShares UltraShort 20+ Year Treasury share prices have been bracketed by a low of $29.45 and a high of $52.25 and are now at $33.48, 14% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of ProShares UltraShort 20+ Year Treasury on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.74. Since that recommendation, shares of ProShares UltraShort 20+ Year Treasury have risen 4.6%. We continue to monitor TBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders proshares ultrashort 20+ year treasury