SYLD ETF Enters Oversold Territory as RSI Plummets

On Tuesday, shares of the SYLD ETF (Symbol: SYLD) fell into oversold territory, trading as low as $64.051 each. The Relative Strength Index (RSI), a technical analysis tool that measures market momentum on a scale from zero to 100, defines oversold conditions. A stock is considered oversold when the RSI drops below 30.

Currently, SYLD’s RSI stands at 27.8, while the S&P 500 has an RSI of 26.9. This suggests that SYLD has experienced significant selling pressure, which some bullish investors may interpret as a sign of a potential bottom. Investors might view the 27.8 RSI reading as an opportunity to enter the market and look for favorable buy points.

Examining SYLD’s one-year performance, the ETF has a 52-week low of $64 per share and a high of $76.95, with the latest trade recorded at $64.16. As of now, shares of SYLD are down approximately 1.2% for the day.

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Also see:

• Cheap Healthcare Shares
• CVX Shares Outstanding History
• SVVC Market Cap History

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