Watch for ProShares UltraShort 20+ Year Treasury to Potentially Pullback After Gaining 1.65% Yesterday
ProShares UltraShort 20+ Year Treasury (NYSE:TBT) traded in a range yesterday that spanned from a low of $31.17 to a high of $31.61. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $31.52 on volume of 1.4 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, shares of ProShares UltraShort 20+ Year Treasury have traded between a low of $29.45 and a high of $52.25 and are now at $31.49, which is 7% above that low price. The 200-day and 50-day moving averages have moved 0.55% lower and 0.03% higher over the past week, respectively.
SmarTrend is tracking the current trend status for ProShares UltraShort 20+ Year Treasury and will alert subscribers who have TBT in their portfolio or watchlist when shares have changed trend direction.
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