Pacer Trendpilot 100 ETF Hits Oversold Levels with RSI at 19.5
In trading on Wednesday, Pacer Trendpilot 100 ETF (Symbol: PTNQ) shares reached an alarming low of $66.07 per share, entering oversold territory. The concept of oversold territory is identified using the Relative Strength Index (RSI), a tool in technical analysis that assesses momentum on a scale of zero to 100. A stock is classified as oversold when its RSI reading drops below 30.
Currently, PTNQ’s RSI stands at 19.5, reflecting significant selling pressure. For comparison, the S&P 500’s RSI is markedly higher at 63.8, suggesting a healthier market sentiment for that index.
A bullish investor might interpret PTNQ’s low RSI as an indicator that the recent wave of selling could be subsiding, signaling potential opportunities for buying.
Reviewing PTNQ’s one-year performance chart, we see that its 52-week low is $66.07 per share, while the 52-week high is $77.83. The last trade occurred at $66.41, indicating a decline of approximately 1.4% for the day.
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Also see:
- VNOM Options Chain
- Funds Holding NWLG
- Funds Holding JMPD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
