In trading on Monday, shares of the JPHY ETF (Symbol: JPHY) dropped to a low of $50.22 per share, entering oversold territory with a Relative Strength Index (RSI) reading of 24.4. An asset is considered oversold when the RSI falls below 30; for comparison, the S&P 500’s RSI is currently at 45.6.
JPHY’s 52-week range has a low of $50.1341 and a high of $51.15, with the last trade at $50.23, down approximately 0.7% on the day. Investors may see the low RSI as a potential opportunity for buying as heavy selling could be nearing exhaustion.
