In trading on Tuesday, shares of the KraneShares 2x Long BIDU Daily ETF (KBDU) dropped to $11.525, entering oversold territory. The Relative Strength Index (RSI) for KBDU fell to 22.7, compared to an RSI of 57.2 for the S&P 500, indicating significant selling pressure.
KBDU’s shares are down approximately 25% for the day, with a 52-week range running from a low of $11.525 to a high of $46.9855. The latest trade was registered at $11.78, suggesting a potential entry point for bullish investors looking for recovery opportunities.
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