SPYI ETF Enters Oversold Territory Amid Selling Pressure

In trading on Friday, shares of the SPYI ETF (Symbol: SPYI) fell into oversold territory, reaching prices as low as $44.20 per share. Oversold conditions are determined using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. A stock is classified as oversold when its RSI reading dips below 30.

For SPYI, the RSI has reached 23.4. In contrast, the S&P 500’s RSI sits at 24.3. This data suggests that the recent heavy selling pressure on SPYI may be starting to lose momentum, which could present potential buying opportunities for bullish investors.

Examining SPYI’s one-year performance chart (shown below), we notice that its 52-week low is $44 per share while the high stands at $52.78. The most recent trade price was $44.47, indicating that SPYI shares are currently down about 4.6% for the day.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.