ProShares UltraShort Bloomberg Crude Oil (ASX:SCO) Climbs 8.14%

All three benchmark US indexes closed lower on Friday after fluctuating throughout the session.

ProShares UltraShort Bloomberg Crude Oil (ASX:SCO) performed nicely this week, continuing its impressive near-term upward movement.  The stock has moved north 8.14% over the past week of trading.  

Looking further out, over the past twelve months, ProShares UltraShort Bloomberg Crude Oil’s stock was 13.08% and 19.40% over the last quarter and 39.40% for the past six months. 

There are many reasons why a stock might advance so much, so quickly.  The total market, including country, continent, or global, might have gone up due to macro reasons.  The company might have reported better than expected (consensus) earnings results.

The company might have announced a major change in the business, such as a buyout, M&A, spin-off, R&D results or the acquisition of a new large client.  The company might have announced its involvement in a lawsuit.  The company might have changed its yearly guidance.  The institutional investors might have bought a large chunk of stocks of the company.

Over the past 50 days, ProShares UltraShort Bloomberg Crude Oil (ASX:SCO) stock was 5.30% off of the high and 52.60% removed from the low.  Their 52-Week High and Low are noted here.  -19.14% (High), 64.79%, (Low). 

RSI 

ProShares UltraShort Bloomberg Crude Oil (ASX:SCO) may have great momentum, but how has it been performing relative to the market?  The stock’s price is $49.64 and their relative strength index (RSI) stands at 72.54.  RSI is a technical oscillator that shows price strength by comparing upward and downward movements.  It indicates oversold and overbought price levels for a stock.  

Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples.

They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals. This is not a recommendation to buy or sell ProShares UltraShort Bloomberg Crude Oil (ASX:SCO).

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