Technical Watch for ProShares Ultra 20+ Year Treasury (:UBT): 20 Day Upper Keltner Level Hits 111.560586

As we move into the second half of the year, investors may be focused on portfolio performance over the first part of the year. They may be trying to put all the pieces together in order to create a solid plan that will provide sustained profits, even if market conditions deteriorate. This may involve introducing more diversity into the portfolio. One investor may evaluate a stock completely different than another. It may be important to do the necessary research on the overall industry when searching for the next big winner. As the next round of earnings reporting gets underway, investors will be watching to see which companies are positioned for growth over the foreseeable future. Investors will optimally have all their requisite boxes checked when scouting out the next portfolio moves.

Traders focusing on technical analysis may be interested in following the Awesome Oscillator level on shares of ProShares Ultra 20+ Year Treasury (:UBT). Currently, the reading is 3.23619765. Typically, when the Awesome Oscillator moves above the zero line, this would indicate that the short term momentum is rising quicker than the long term momentum. A cross below the zero line would indicate that short term momentum is dropping faster than the long term momentum.

Traders following shares of ProShares Ultra 20+ Year Treasury (:UBT) may have noted that the stock most recently closed at 112.15. Going back a full-year, the stock has seen a change of 47.13020663 over that stretch. Taking the focus in to more recent action, shares have seen a move of 1.85269276 over the last week. Over the prior month, the stock has moved 18.08992313. Over the past three months, the stock has moved 22.82334903.

Tracking the Hull Moving Average, we note that the current level is 111.2843882. The Hull Moving Average was introduced by Alan Hull. Swing traders often use this indicator in combination with other signals in order to help identify possible entry and exit spots.

Many traders will look to optimize stock trades by using various technical indicators. The Ichimoku Cloud indicator is highly flexible and is commonly used in conjunction with the RSI to help confirm momentum and overall trends. Let’s focus on a few different Ichimoku readings:

Ichimoku Cloud Base Line: 110.42
Ichimoku Cloud Conversion Line: 111.795
Ichimoku Lead 1: 100.535
Ichimoku Lead 2: 97.05

Tracking some one month stock pivot points for ProShares Ultra 20+ Year Treasury (:UBT), we note that the Classic Pivot is 109.0066667, the Classic resistance 1 is 111.6033333, and the Classic support 1 is presently 107.5133333. The Fibonacci one month pivot is 109.0066667 while the Fibonacci support 1 pivot is 107.4442867, and the Fibonacci support 2 is 106.4790467. Looking at one month Woodie pivot, we note the level at 109.2375. The
Woodie support 1 pivot is 107.975, and the Woodie resistance 1 pivot is 112.065.

Expanding the technical focus for ProShares Ultra 20+ Year Treasury (:UBT), we see that the Keltner Channels 20 day upper band is 111.560586, and the 20 day lower band is108.6858481. The Keltner Channels indicator is similar to Bollinger Bands and Moving Average Envelopes.

There are multiple moving average indicators that traders may rely on when conducting stock research. One of the most popular is the Simple Moving Average. The SMA is unweighted, meaning that each period in the set of data is weighted equally. Looking at some SMA levels, we can see that the 10 day is 111.68993, the 20 day is 110.099865, and the 30 day is 109.60601. Tracking some other time periods, we note that the 50 day SMA is 104.481218 , the 100 day is 97.362099 , and the 200 day SMA is currently 89.9829005.

Traders may be looking to capitalize on market trends as we move into the second part of the calendar year. Closely following the technicals might help make sense of current market conditions. Investors may choose to follow many different technical signals, or they may have picked a few popular ones to dedicate themselves to. Whatever the strategy, staying in tune with fundamentals and meaningful economic data may also prove to be highly beneficial. Coming at the equity market from multiple angles may help supply the investor with alternate perspectives that could play a vital role in the next couple of quarters. 

Leave a Reply

Your email address will not be published. Required fields are marked *