On Friday, shares of the ProShares Short QQQ ETF (PSQ) dropped to $11.41, entering oversold territory with a Relative Strength Index (RSI) of 28.3. An RSI below 30 indicates oversold conditions, contrasting with the S&P 500’s RSI of 58.8. The 52-week range for PSQ is between $11.41 and $15.63, with current trading reflecting a 1.6% decline.
This RSI reading suggests that significant selling may be nearing exhaustion, potentially presenting buying opportunities for bullish investors.
