In trading on Friday, Direxion Daily Concentrated QS Bear 1x Shares ETF (Symbol: QQQD) fell to $12.785 per share, entering oversold territory with a Relative Strength Index (RSI) reading of 29.0. An RSI below 30 indicates a stock is potentially oversold, while the S&P 500’s current RSI stands at 72.1.
QQQD has a 52-week trading range with a low of $12.66 and a high of $21.716, closing recently at $12.88. The shares are currently down approximately 1.4% for the day, attracting attention from bullish investors who may view the oversold condition as a buying opportunity.
