PDEC ETF Enters Oversold Territory: Key Metrics to Consider

On Tuesday, shares of the PDEC ETF (Symbol: PDEC) traded as low as $37.40 each, indicating that they have entered oversold territory. This status is identified using the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100. A stock is deemed oversold when its RSI falls below 30.

For PDEC, the current RSI is 28.1, in contrast to the S&P 500’s RSI of 26.9. This indicates that PDEC has experienced significant selling pressure recently.

For bullish investors, the 28.1 RSI could suggest that the recent heavy selling may be exhausting itself. Observing this trend could present potential entry points for purchasing shares of the ETF.

When analyzing PDEC’s one-year performance, the stock has a 52-week low of $35.89 per share and a high of $39.45. As of the latest trade, the stock is priced at $37.40, reflecting a decline of approximately 0.6% for 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.