In trading on Tuesday, shares of the First Trust Cloud Computing ETF (SKYY) fell to an oversold territory, reaching a low of $119.90 per share. The Relative Strength Index (RSI) for SKYY stood at 27.0, indicating strong selling momentum; this contrasts with an RSI of 39.3 for the S&P 500, which shows a broader market trend.
SKYY’s recent price movements reflect a 52-week range of $85.38 to $143.74, with the current trading price at $120.09, representing a decline of approximately 3.4% for the day. Investors may view the low RSI reading as a potential opportunity for buying as the selling pressure diminishes.
