In trading on Wednesday, shares of the NULV ETF (Symbol: NULV) dropped into oversold territory, reaching as low as $40.15 per share. The term “oversold” is defined using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. Typically, a stock is deemed oversold when its RSI falls below 30.
Currently, NULV has an RSI reading of 28.4. In contrast, the S&P 500 has an RSI reading of 64.1. For bullish investors, this 28.4 reading may suggest that the recent steep selling could be reaching its end, prompting potential buying opportunities.
Looking at NULV’s performance over the past year, its lowest point in a 52-week range is $35.07, while the high is $43.39. As of the last trade, shares are priced at $40.20, reflecting a decrease of about 1.8% for the day.
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Also see:
- PE History
- PV Options Chain
- Top Ten Hedge Funds Holding LVGO
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
