SmarTrend Watching for Potential Rebound in Shares of ProShares Ultra DJ-UBS Crude Oil After 5.83% Loss
ProShares Ultra DJ-UBS Crude Oil (NYSE:UCO) traded in a range yesterday that spanned from a low of $8.84 to a high of $9.18. Yesterday, the shares fell 5.8%, which took the trading range below the 3-day low of $8.87 on volume of 6.0 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, shares of ProShares Ultra DJ-UBS Crude Oil have traded between a low of $5.98 and a high of $49.78 and are now at $8.88, which is 49% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2.6% while the 50-day MA has advanced 3.1%.
SmarTrend is tracking the current trend status for ProShares Ultra DJ-UBS Crude Oil and will alert subscribers who have UCO in their portfolio or watchlist when shares have changed trend direction.
Keywords: rebounders proshares ultra dj-ubs crude oil