Direxion TMF ETF Hits Oversold Levels Amid Market Turbulence
Analyzing TMF’s Performance and Market Sentiment
In trading on Wednesday, shares of the Direxion Daily 20+ Year Treasury Bull 3X Shares ETF (Symbol: TMF) dropped into oversold territory, trading as low as $43.80 per share. The Relative Strength Index (RSI), a popular technical analysis tool for measuring momentum, indicated this status. Stocks are deemed oversold when their RSI reading falls below 30.
For TMF, the RSI has fallen to 29.9. In contrast, the S&P 500 boasts a healthier RSI of 62.6. A bullish trader might interpret TMF’s 29.9 reading as a potential signal indicating that the recent intense selling may be winding down, suggesting it may be time to seek buying opportunities.
Examining TMF’s One-Year Performance
Reviewing the one-year performance chart below, TMF’s shares have seen a 52-week low of $42.655 and a high of $67.87. Currently, they are trading at $44.34, reflecting an approximate decline of 8.7% for the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
