PJAN ETF Enters Oversold Territory Amid Heavy Selling Pressure

On Monday, shares of the PJAN ETF (Symbol: PJAN) dropped into oversold territory, reaching a low of $41.2001 per share. We identify oversold territory by employing the Relative Strength Index (RSI), a technical analysis tool that quantifies momentum on a scale from zero to 100. A stock is deemed oversold if its RSI falls below 30.

Currently, PJAN’s RSI stands at 28.3, which is slightly below the S&P 500’s RSI of 28.9. For bullish investors, this 28.3 reading may signal that the recent aggressive selling is nearing its end, potentially creating opportunities for buying.

Examining PJAN’s performance over the past year, the ETF reached a low of $38.1501 per share and a 52-week high of $43.28. The most recent trade price stood at $41.34, reflecting a decline of approximately 1.6% for the day.

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