In trading on Friday, September 29, 2023, shares of the Direxion Daily 7-10 Year Treasury Bull 3x Shares ETF (TYD) dropped to a low of $23.21, entering oversold territory with a Relative Strength Index (RSI) reading of 29.2. A stock is considered oversold when the RSI falls below 30; in contrast, the S&P 500 currently has an RSI of 75.7.
The ETF has a 52-week trading range with a low of $23.21 and a high of $26.86, and it last traded at $23.26, down approximately 2.5% for the day. Investors are viewing the oversold status as a potential signal to seek buying opportunities as the heavy selling trend may be nearing exhaustion.
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