Shares Of DZK Now Oversold

In trading on Tuesday, shares of the Daily Developed Markets Bull 3x Shares ETF ( DZK) entered into oversold territory, changing hands as low as $71.71 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 Developed Markets Bull 3x Shares, the RSI reading has hit 28.8 — by comparison, the RSI reading for the S&P 500 is currently 34.9.

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A bullish investor could look at DZK's 28.8 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), DZK's low point in its 52 week range is $50.95 per share, with $85.39 as the 52 week high point — that compares with a last trade of $71.83. Daily Developed Markets Bull 3x Shares shares are currently trading down about 4.1% on the day.

Daily Developed Markets Bull 3x Shares 1 Year Performance Chart

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