In trading on Monday, shares of the Direxion Daily PANW Bear 1X Shares ETF (Symbol: PALD) fell to $10.22, entering oversold territory with a Relative Strength Index (RSI) reading of 28.7, below the oversold threshold of 30. This contrasts sharply with the S&P 500’s RSI of 68.5.
Over the past year, PALD has experienced a 52-week low of $10.18 and a high of $30.87. As of the latest trading data, shares are down approximately 5% for the day. Investors may see the low RSI as an opportunity for potential buying as selling pressure appears to be easing.
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