In trading on Tuesday, shares of the GraniteShares 2x Long QCOM Daily ETF (QCML) fell to $10.46, entering oversold territory, as indicated by a Relative Strength Index (RSI) reading of 29.9. Stocks are considered oversold when their RSI dips below 30; by comparison, the S&P 500 has an RSI of 47.4.
The ETF’s performance has shown a 52-week range with a low of $10.46 and a high of $30.56. The last trade price was $10.79, reflecting a daily decline of approximately 3.5%. Investors may view the low RSI as a potential buying opportunity amid recent heavy selling pressures.
