Shares of RTXG Now Oversold

In trading on Thursday, shares of the Leverage Shares 2X Long RTX Daily ETF (Symbol: RTXG) entered into oversold territory, changing hands as low as $22.3001 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 Leverage Shares 2X Long RTX Daily, the RSI reading has hit 26.1 — by comparison, the RSI reading for the S&P 500 is currently 50.8. A bullish investor could look at RTXG's 26.1 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.