Uranium ETF Enters Oversold Zone: A Potential Buying Opportunity?
On Monday, shares of the Uranium ETF (Symbol: URA) traded at a low of $26.68, indicating the stock may be oversold. The concept of oversold territory is defined using the Relative Strength Index (RSI), a key technical analysis tool that gauges momentum. An RSI score below 30 typically signals that a stock is oversold.
Currently, URA’s RSI reading stands at 28.0, in contrast to the S&P 500’s RSI of 39.2. This situation could catch the attention of bullish investors, as they might interpret the low RSI as a sign that recent heavy selling may be subsiding, hence presenting potential buying opportunities.
Looking at URA’s performance over the past year, its price has fluctuated between a low of $22.785 and a high of $33.99. As of the last trade, URA was at $26.73, reflecting a daily decline of about 5%.
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Additional Resources:
- Ex-Dividend Calendar
- Funds Holding BLFS
- ASYS Split History
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
