KNG ETF Enters Oversold Territory: A Closer Look
On Wednesday, shares of the KNG ETF (Symbol: KNG) dipped into oversold territory, trading as low as $50.49 per share. This position is identified through the Relative Strength Index (RSI), a tool that gauges momentum on a scale from zero to 100. Stocks are deemed oversold when their RSI falls below 30.
Currently, KNG’s RSI stands at 23.8, while the S&P 500’s RSI is higher at 49.5. For bullish investors, this low reading might suggest that the recent intense selling could be winding down, presenting potential buying opportunities.
Reviewing KNG’s one-year performance chart (below), the stock hit a low of $49.8501 and peaked at $55.4999 during this period. The most recent trade occurred at $50.53, indicating a decline of roughly 2% today.
Note: Explore Top 8%+ Dividends Paid Monthly
Discover 9 other oversold stocks now »
Further Insights:
- ALOT shares outstanding history
- Institutional Holders of JHAC
- RECN YTD Return
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
