Watch for ProShares UltraShort 20+ Year Treasury to Potentially Rebound After Falling 1.44% Yesterday
ProShares UltraShort 20+ Year Treasury (NYSE:TBT) traded in a range yesterday that spanned from a low of $33.97 to a high of $34.27. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $34.54 on volume of 1.2 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, ProShares UltraShort 20+ Year Treasury share prices have been bracketed by a current low of $33.97 and a high of $52.25 and are now at $34.17. The 200-day and 50-day moving averages have moved 0.55% lower and 0.03% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of ProShares UltraShort 20+ Year Treasury on May 5th, 2016 by issuing a Downtrend alert when the shares were trading at $36.49. Since that call, shares of ProShares UltraShort 20+ Year Treasury have fallen 5.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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