In trading on Tuesday, shares of the Direxion Daily MU Bear 1X ETF (MUD) fell into oversold territory, reaching a low of $21.40 per share. The Relative Strength Index (RSI) for MUD hit 26.6, below the oversold threshold of 30, while the S&P 500’s RSI was significantly higher at 71.7.
Currently priced at $21.89, MUD has experienced a 10.9% decline for the day. Over the past year, shares have fluctuated between a low of $21.40 and a high of $251. Investors may view the low RSI as an indicator that the recent selling pressure is potentially waning, creating a buying opportunity.
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