Defiance Quantum ETF Shows Oversold Signals with RSI at 29.4
In trading on Tuesday, shares of the Defiance Quantum ETF (Symbol: QTUM) entered oversold territory, trading as low as $73.79 per share. Oversold conditions are defined using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. A stock is typically classified as oversold when the RSI falls below 30.
For Defiance Quantum, the RSI has reached 29.4. In contrast, the S&P 500’s RSI stands at 26.9. This indicates that QTUM is approaching a critical point where selling pressure may be subsiding, offering bullish investors a potential buying opportunity as they seek entry points.
Analyzing the one-year performance of QTUM (illustrated in the chart below), its lowest price in the 52-week range is recorded at $52.98, while the highest point is $90.75. The most recent trading price at $73.79 puts it in the middle of that range, with shares down approximately 1.6% for the day.
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Also see:
- Funds Holding SO
- Institutional Holders of ITIC
- CCI Stock Predictions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
