On Wednesday, shares of the Direxion Daily Gold Bull 3x Shares ETF (BAR) traded as low as $38.99, entering oversold territory with a Relative Strength Index (RSI) reading of 26.2. An RSI below 30 indicates that a stock is considered oversold. In comparison, the S&P 500 has an RSI of 45.2.
The ETF’s 52-week range shows a low of $32.11 and a high of $54.625, with the latest trade occurring at $39.27. Currently, BAR’s shares are down approximately 3.2% on the day. Investors may view the low RSI as a potential entry point opportunity as selling pressure appears to be exhausting.
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