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April 10, 2023Today at a glance: ProShares UltraShort MSCI Brazil Capped dipped as low as $20.15 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($20.35) with ProShares UltraShort MSCI Brazil Capped closing the day at $20.16.
Trend-following investors would be interested to note that ProShares UltraShort MSCI Brazil Capped made an initial break below its 5 day Simple Moving Average at $20.25, a possible indication of a forthcoming negative trend. According to asset volatility analysis, ProShares UltraShort MSCI Brazil Capped's lower Bollinger Band® is at $19.2, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. A study of ProShares UltraShort MSCI Brazil Capped's chart reveals various key levels to watch: ProShares UltraShort MSCI Brazil Capped could begin to recover as it approaches significant support, now 12 cents away from $20.28. Dipping below could be an indication that further losses are ahead.
Overall, while ProShares UltraShort MSCI Brazil Capped has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
In the meantime, negative performances are also seen in other markets, Anheuser-Busch dips 2.08% today and closed at $66.34. After ending today's session at $108.9, Alphabet lost $1.95 and is trading around $106.95.
Positive performances can be seen by looking at other markets as Caterpillar added 3.04% and closed around $209.17 today.
Furthermore, United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 16:00 UTC.
8 months ago ProShares UltraShort MSCI Brazil Capped reached a significant high of $34.1 but has consequently lost 39.79% since then.
