On Monday, shares of the ARK Next Generation Internet ETF (Symbol: ARKW) fell to $118.28, entering oversold territory indicated by a Relative Strength Index (RSI) reading of 29.3. An asset is considered oversold when the RSI falls below 30; for context, the S&P 500 holds an RSI of 43.2.
Over the past year, ARKW has experienced a low of $78.62 and a high of $183. Currently, shares are trading at $119.12, with a decrease of about 4.2% on the day. Investors may view the low RSI as an opportunity for potential buying as recent selling pressure subsides.
