In trading on Tuesday, shares of the Invesco BuyBack Achievers ETF (Symbol: PKW) fell to $109.92, entering oversold territory. The Relative Strength Index (RSI), a crucial technical analysis tool utilized to gauge momentum on a scale of zero to 100, defines this condition. An asset is deemed oversold when its RSI falls below 30.

For Invesco BuyBack Achievers, the RSI has reached 26.9. In comparison, the S&P 500 index also has an RSI reading of 26.9, indicating similar selling pressure in the broader market.

A bullish investor might interpret PKW’s 26.9 reading as a potential sign that the recent heavy selling is losing steam, prompting them to seek entry points for buying.

An examination of PKW’s performance over the past year reveals that the ETF’s lowest point in the 52-week range is $101.2624 per share, while its highest point is $125.3122. As of the last trade, shares are priced at $109.97, reflecting a decrease of approximately 1.9% on the day.

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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.