SRTY Crowded With Sellers

In trading on Friday, shares of the Proshares UltraPro Short Russell2000 ETF (SRTY) entered into oversold territory, changing hands as low as $12.658 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 Proshares UltraPro Short Russell2000, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 68.4.

START SLIDESHOW:
Find out what 9 other oversold stocks you need to know about »

A bullish investor could look at SRTY's 29.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), SRTY's low point in its 52 week range is $12.658 per share, with $47.87 as the 52 week high point — that compares with a last trade of $12.70. Proshares UltraPro Short Russell2000 shares are currently trading off about 2.8% on the day.

Proshares UltraPro Short Russell2000 1 Year Performance Chart

null

More from Stocks

Facebook, Amazon, Microsoft and Ford - 5 Things You Must Know

Facebook, Amazon, Microsoft and Ford - 5 Things You Must Know

Abercrombie & Fitch CEO: We Aren't the Same Abercrombie You Once Knew

Abercrombie & Fitch CEO: We Aren't the Same Abercrombie You Once Knew

Amazon Wants to Use Your Car as a Mobile Warehouse - Here's What That Could Mean

Amazon Wants to Use Your Car as a Mobile Warehouse - Here's What That Could Mean

Chipotle's New CEO Has Set its Path for Redemption

Chipotle's New CEO Has Set its Path for Redemption

TheStreet Is About to Hold the BEST Institutional Investor Conference of 2018

TheStreet Is About to Hold the BEST Institutional Investor Conference of 2018