In trading on Friday, shares of the Direxion Daily QCOM Bear 1X ETF (Symbol: QCMD) dropped to as low as $24.08, entering oversold territory with a Relative Strength Index (RSI) reading of 27.2. An RSI below 30 indicates that a stock is oversold, suggesting that the recent selling pressure may be exhausting, compared to an RSI of 68.4 for the S&P 500.
QCMD’s 52-week range is between $18.10 and $29.55, with the last trade recorded at $24.36, down approximately 10.4% for the day.
