In trading on Monday, shares of the PowerShares Dynamic Media Portfolio ETF (PBS) entered into oversold territory, changing hands as low as $23.6801 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.In the case of PowerShares Dynamic Media Portfolio, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 47.6.
Shares of PBS Now Oversold
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