Economy

ProShares UltraShort Basic Materials ETF (SMN) Shares Spotted Above Chikou Line

Investors and traders may be looking to figure out if a stock is trending before employing a specific trading strategy. In terms of Moving Averages, the 7-day is resting at 82.54. When the RSI line moves up, the stock may be experiencing strength. CCI may also be used to aid in the discovery of divergences that could possibly signal reversal moves.

Sep 11 is a negative day so far for ProShares Short QQQ (NYSEARCA:PSQ) as the ETF is active during the day after losing 1.09% to hit $38.11 per share. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. The ADX is typically used along with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) which point to the direction of the trend. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market.

Checking in on some other technical levels, the 14-day RSI is now at 49.10, the 7-day stands at 41.25, and the 3-day is sitting at 14.07. The Relative Strength Index (RSI) is a highly popular momentum indicator used for technical analysis. The RSI was developed by J. Welles Wilder in the late 1970's. Since its inception, RSI has remained very popular with traders and investors. Other technical analysts have built upon the work of Wilder.

More notable recent ProShares Ultra QQQ (ETF) (NYSEARCA:QLD) news were published by: Benzinga.com which released: "Traders Bail On This Leveraged ETF As Earnings Roll In" on July 19, 2017, also Etfdailynews.com with their article: "Amid Higher Debt And Weaker Economy, Is It Time To Bet Against Stocks?" published on April 19, 2017, Seekingalpha.com published: "Trump Rally To Trump Bubble" on February 28, 2017. Investors may be watching other technical indicators such as the Williams Percent Range or Williams %R. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. A common look back period is 14 days. Presently, ProShares UltraShort Health Care (RXD)'s Williams Percent Range or 14 day Williams %R is resting at -95.26. The RSI oscillates on a scale from 0 to 100. A value between 0 to -20 would represent a strong overbought condition. A reading between -80 to -100 may be typically viewed as strong oversold territory. ProShares UltraShort Oil & Gas Explrtn & Prod ETF (SOP) now has a 14-day Commodity Channel Index (CCI) of -17.82. The CCI was created to typically stay within the reading of -100 to +100. Values can range from 0 to -100. Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Developed by Donald Lambert, the CCI is a versatile tool that may be used to help spot an emerging trend or provide warning of extreme conditions.

Investors often closely follow fundamental and technical data. With the recent trend resulting in a series of new all-time record highs, investors will have to put the pieces together to try and gauge how long the second longest bull market in history will continue. Some professionals are still wondering if the next recession is looming, and if a bear market is right around the corner.

Investors are always striving to make wiser decisions when it comes to handling the markets.



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