Direxion Daily Small Cap Bull 3X ETF Enters Oversold Territory
On Tuesday, shares of the Direxion Daily Small Cap Bull 3X Shares ETF (Symbol: TNA) dropped into oversold territory, trading as low as $27.9801 per share. Oversold territory is determined using the Relative Strength Index (RSI), a momentum indicator that ranges from zero to 100. A stock is deemed oversold when its RSI reading falls below 30.
The RSI for TNA has reached 29.4, while the S&P 500’s RSI stands higher at 36.7. This suggests that TNA may be experiencing exhaustion from recent heavy selling, potentially providing bullish investors with opportunities to enter the market on the buy side.
Examining TNA’s one-year performance, the ETF’s low point in its 52-week range is $27.455 per share, contrasting with a 52-week high of $58. The last trade price for TNA was $28.62, indicating a decrease of approximately 3.3% on the day.
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also see:
- FNDE YTD Return
- RST shares outstanding history
- HLAH shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
