In trading on Wednesday, shares of the JP Morgan US Tech Leaders ETF (JTEK) were priced as low as $80.60, entering oversold territory with a Relative Strength Index (RSI) of 28.7, compared to an RSI of 52.5 for the S&P 500. A stock is considered oversold when its RSI falls below 30, indicating potential for a buying opportunity.
JTEK’s performance over the past year shows a low of $56.40 and a high of $97.86, with its last trade recorded at $81.87, reflecting a decline of 4.2% for the day. Investors are observing this bearish trend, as heavy selling may be nearing its completion.
