SmarTrend Watching for Potential Rebound in Shares of ProShares UltraPro S&P 500 After 1.57% Loss
ProShares UltraPro S&P 500 (NYSE:UPRO) traded in a range yesterday that spanned from a low of $62.12 to a high of $63.26. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $62.54 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of ProShares UltraPro S&P 500 on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $53.02. Since that recommendation, shares of ProShares UltraPro S&P 500 have risen 19.9%. We continue to monitor UPRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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 $62.44, 45% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.3%.
Keywords: rebounders proshares ultrapro s&p 500