In trading on Friday, shares of the Amplify Seymour Cannabis ETF (CNBS) hit an oversold level with a Relative Strength Index (RSI) of 29.9, indicating significant selling pressure. The ETF’s shares were trading as low as $24.64, compared to its 52-week range of $17.52 to $43.94. The current trading price is around $25.03, reflecting a decline of approximately 1.5% for the day.
In contrast, the S&P 500’s RSI stands at 44.8, suggesting a stronger market momentum. Investors might view CNBS’s oversold status as a potential buying opportunity as heavy selling appears to be exhausting.
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