Daily Retail Bull 3x Shares Getting Very Oversold

In trading on Thursday, shares of the Daily Retail Bull 3x Shares ETF (RETL) entered into oversold territory, changing hands as low as $70.5001 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 Daily Retail Bull 3x Shares, the RSI reading has hit 29.7 — by comparison, the RSI reading for the S&P 500 is currently 57.6.

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

A bullish investor could look at RETL's 29.7 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), RETL's low point in its 52 week range is $35.17 per share, with $81.78 as the 52 week high point — that compares with a last trade of $71.60. Daily Retail Bull 3x Shares shares are currently trading off about 2.7% on the day.

Daily Retail Bull 3x Shares 1 Year Performance Chart

More from Stocks

Alphabet Earnings, Bond Yields Rise, Akorn Plunges - 5 Things You Must Know

Alphabet Earnings, Bond Yields Rise, Akorn Plunges - 5 Things You Must Know

Street Stats: The Mid-Term Elections May Be a Rollercoaster Ride for Investors

Street Stats: The Mid-Term Elections May Be a Rollercoaster Ride for Investors

3 Things Investors Must Know for Monday

3 Things Investors Must Know for Monday

What You Need to Know About Facebook and Europe's New Privacy Rules

What You Need to Know About Facebook and Europe's New Privacy Rules

8 Bold Moves General Motors Could Make to Rev Up Its Battered Stock Price

8 Bold Moves General Motors Could Make to Rev Up Its Battered Stock Price