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On Thursday, shares of the First Trust Cloud Computing ETF (SKYY) traded as low as $123.51, entering oversold territory with a Relative Strength Index (RSI) of 28.4. An RSI reading below 30 is considered oversold, while the S&P 500 has an RSI of 37.0.
SKYY’s current pricing is significantly off its 52-week low of $85.38 and high of $143.74, reflecting a drop of approximately 2.5% on the day.
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