DIVO ETF Shows Oversold Signals Following Recent Trading Activity
In trading on Thursday, shares of the Amplify CWP Enhanced Dividend Income ETF (Symbol: DIVO) fell into oversold territory, reaching a low of $39.8207 per share. Oversold condition is determined using the Relative Strength Index (RSI), a popular technical analysis tool that measures momentum on a scale of zero to 100. A stock is classified as oversold when its RSI dips below 30.
Currently, DIVO’s RSI stands at 29.8, contrasting with the S&P 500’s RSI reading of 31.0. For bullish investors, this 29.8 RSI may signal that the recent wave of heavy selling is approaching an end, prompting a potential search for buying opportunities.
Reviewing DIVO’s one-year performance chart, its lowest point in the 52-week range is $37.4602 per share, while its highest point reaches $42.88. The most recent trade price was $39.92. Right now, Amplify CWP Enhanced Dividend Income shares are trading down approximately 0.1% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
