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April 30, 2023
A quick look at Friday: ProShares UltraShort MSCI Brazil Capped dipped as low as $18.55 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session ($19.28) with ProShares UltraShort MSCI Brazil Capped closing the day at $18.64.
ProShares UltraShort MSCI Brazil Capped made an initial break below its 21 day Simple Moving Average at $19.14, a possible indication of a forthcoming negative trend. On the other hand, note that ProShares UltraShort MSCI Brazil Capped could begin to recover as it approaches significant support, now 27 cents away from $18.37. Dipping below could be an indication that further losses are ahead.
Looking forward, ProShares UltraShort MSCI Brazil Capped is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, Sanofi lost 4.35% Friday and closed at $56.09. Sony Group Corporation lost 5.7% Friday and closed at $95.09.
Other assets are showing positive performances as Mondelez International added 3.93% and closed around $73.82 Friday.
Furthermore, United States ISM Manufacturing PMI (Apr) scheduled to come out tomorrow at 14:00 UTC.
ProShares UltraShort MSCI Brazil Capped has fallen back around 44.34% from the significant high of $34.1 set 9 months ago.
