RUSS Crosses Critical Technical Indicator

In trading on Tuesday, shares of the Daily Russia Bear 3x Shares ETF (RUSS) entered into oversold territory, changing hands as low as $6.41 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 Russia Bear 3x Shares, the RSI reading has hit 27.8 — by comparison, the RSI reading for the S&P 500 is currently 53.3.

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A bullish investor could look at RUSS's 27.8 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), RUSS's low point in its 52 week range is $6.37 per share, with $64.70 as the 52 week high point — that compares with a last trade of $6.56. Daily Russia Bear 3x Shares shares are currently trading off about 6.5% on the day.

Daily Russia Bear 3x Shares 1 Year Performance Chart

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