On Wednesday, shares of the ProShares Short S&P500 ETF (Symbol: SH) reached an oversold level with a price as low as $15.06 per share. The Relative Strength Index (RSI) for SH was recorded at 29.9, indicating oversold conditions, while the S&P 500’s RSI stood at 69.9.
Investors may interpret the low reading as a potential buying opportunity, given the heavy selling might be nearing exhaustion. Over the past year, SH has fluctuated between a low of $13.47 and a high of $17.20, with current trading down approximately 0.7% at $15.11.
