In trading on Tuesday, the shares of the Defiance Daily Target 2x Long AVAV ETF (Symbol: AVXX) fell to as low as $10.1601, moving into oversold territory with a Relative Strength Index (RSI) reading of 29.7. An RSI below 30 indicates that a stock is considered oversold; in comparison, the S&P 500’s RSI stands at 47.4.
Over the past year, AVXX’s price range has seen a low of $9.57 and a high of $73.7445, with the last trade recorded at $10.64, reflecting a decline of about 4% for the day. Bullish investors may see the current RSI reading as a potential signal for buying opportunities as selling pressure appears to be easing.
