On Friday, Gotham Short Strategies ETF (SHRT) shares fell to $6.39, entering oversold territory with a Relative Strength Index (RSI) reading of 26.6. According to technical analysis, stocks are considered oversold when the RSI falls below 30. In comparison, the S&P 500’s RSI is 72.5.
Over the past year, SHRT has fluctuated between a low of $6.39 and a high of $8.19, with its last trade recorded at $6.41, reflecting a 1.2% decrease for the day. Investors might interpret the oversold status as a potential buying opportunity, signaling that recent heavy selling could be abating.
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