On Monday, shares of the ProShares UltraPro Short QQQ ETF (SQQQ) hit an oversold status, trading as low as $25.0646 per share. This was indicated by a Relative Strength Index (RSI) of 29.2, falling below the threshold of 30 that denotes oversold conditions. In contrast, the S&P 500’s current RSI is significantly higher at 62.2.
The 52-week performance of SQQQ shows a low of $25.0646 and a high of $69.55, with the last trade recorded at $25.27, reflecting a decrease of approximately 1.1% for the day. Investors may interpret the low RSI as a signal to look for potential buying opportunities as selling pressure may be waning.
