In trading on Wednesday, shares of the GraniteShares 2x Short TSLA Daily ETF (TSDD) were recorded at $6.57 per share, entering oversold territory with a Relative Strength Index (RSI) reading of 29.3. Stocks are typically considered oversold when the RSI falls below 30. In contrast, the S&P 500 has a significantly higher RSI of 84.9.
TSDD has seen a 52-week range with a low of $6.57 and a high of $31.65, currently trading down approximately 5.2% on the day at $6.85. The recent high RSI indicates heavy selling may be reaching exhaustion, prompting bullish investors to consider potential buying opportunities.
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