SmarTrend Watching for Potential Pullback in Shares of ProShares UltraShort DJ-UBS Crude Oil After 1.69% Gain
ProShares UltraShort DJ-UBS Crude Oil (NYSE:SCO) traded in a range yesterday that spanned from a low of $90.50 to a high of $92.31. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $91.96 on volume of 209,000 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 tracking the current trend status for ProShares UltraShort DJ-UBS Crude Oil and will alert subscribers who have SCO in their portfolio or watchlist when shares have changed trend direction.
In the past 52 weeks, shares of ProShares UltraShort DJ-UBS Crude Oil have traded between a low of $50.90 and a high of $243.67 and are now at $91.79, which is 80% above that low price. The 200-day and 50-day moving averages have moved 0.38% higher and 4.7% lower over the past week, respectively.
Keywords: rebounders proshares ultrashort dj-ubs crude oil