In buying and selling on Monday, shares of the Invesco Most well-liked ETF (Image: PGX) entered into oversold territory, altering palms as little as $11.40 per share. We outline oversold territory utilizing the Relative Power Index, or RSI, which is a technical evaluation indicator used to measure momentum on a scale of zero to 100. A inventory is taken into account to be oversold if the RSI studying falls under 30.
Within the case of Invesco Most well-liked, the RSI studying has hit 27.0 — by comparability, the RSI studying for the S&P 500 is at the moment 48.1.
A bullish investor may have a look at PGX’s 27.0 studying as an indication that the latest heavy promoting is within the strategy of exhausting itself, and start to search for entry level alternatives on the purchase facet.
Taking a look at a chart of 1 12 months efficiency (under), PGX’s low level in its 52 week vary is $10.135 per share, with $12.0647 because the 52 week excessive level — that compares with a final commerce of $11.38. Invesco Most well-liked shares are at the moment buying and selling down about 0.9% on the day.
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Additionally see:
Funds Holding DVP
Prime Ten Hedge Funds Holding PRFZ
Prime Ten Hedge Funds Holding NSEC
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
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