VanEck Uranium+Nuclear Energy ETF Shows Oversold Signals

During Monday’s trading session, shares of the VanEck Uranium+Nuclear Energy ETF (Symbol: NLR) fell into oversold territory, reaching a low of $73.03 per share. The concept of “oversold” is identified using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from 0 to 100. Typically, a stock is regarded as oversold when the RSI falls below 30.

For VanEck Uranium+Nuclear Energy, the RSI has reached a reading of 28.4. In comparison, the S&P 500 currently boasts an RSI of 31.0.

Bullish investors might interpret NLR’s 28.4 RSI as an indicator that the recent significant selling pressure is nearing its end, presenting potential buy opportunities.

Analyzing its one-year performance, NLR’s lowest point within the past 52 weeks is $68.42 per share, while the highest has been $97.89. The most recent trade saw shares at $73.40, representing a decline of approximately 3.4% on the day.

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The views expressed herein are the author’s and do not necessarily reflect those of Nasdaq, Inc.