On Thursday, shares of the Direxion Daily AMZN Bear 1X Shares ETF (Symbol: AMZD) fell to $9.77, entering oversold territory, indicated by a Relative Strength Index (RSI) of 29.8. This contrasts with an RSI of 60.6 for the S&P 500, suggesting significant selling pressure. The ETF’s 52-week performance range is between $9.0315 and $14.67, marking the current price at $9.80, approximately 5.1% lower on the day.
Bullish investors may view the low RSI reading as a potential signal for buying opportunities, as it suggests that selling could be exhausting itself.
