Shares of YANG Now Oversold

In trading on Thursday, shares of the Daily FTSE China Bear 3x Shares ETF (YANG) entered into oversold territory, changing hands as low as $12.45 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 FTSE China Bear 3x Shares, the RSI reading has hit 28.3 — by comparison, the RSI reading for the S&P 500 is currently 66.5.

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

A bullish investor could look at YANG's 28.3 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), YANG's low point in its 52 week range is $12.45 per share, with $31.42 as the 52 week high point — that compares with a last trade of $12.45. Daily FTSE China Bear 3x Shares shares are currently trading down about 3.5% on the day.

Daily FTSE China Bear 3x Shares 1 Year Performance Chart

More from Stocks

Global Stocks Rally as US-China Trade War Thaws; Dow Could Test 25,000

Global Stocks Rally as US-China Trade War Thaws; Dow Could Test 25,000

China Trade Truce, General Electric and Tesla - 5 Things You Must Know

China Trade Truce, General Electric and Tesla - 5 Things You Must Know

The Stock Market Has Every Reason to See a Fresh Rally

The Stock Market Has Every Reason to See a Fresh Rally

18 Top Stocks Hedge Funds Own That Goldman Sachs Thinks Will Keep Outperforming

18 Top Stocks Hedge Funds Own That Goldman Sachs Thinks Will Keep Outperforming

3 Simple Tips on Investing From TheStreet's Jim Cramer

3 Simple Tips on Investing From TheStreet's Jim Cramer