In the case of MicroSectors FANG+ Index 3X Leveraged ETN, the RSI reading has hit 27.1 — by comparison, the RSI reading for the S&P 500 is currently 44.1. A bullish investor could look at FNGU's 27.1 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.
Looking at a chart of one year performance (below), FNGU's low point in its 52 week range is $7.9502 per share, with $690.455 as the 52 week high point — that compares with a last trade of $17.87. MicroSectors FANG+ Index 3X Leveraged ETN shares are currently trading down about 8.3% on the day.
Click here to find out what 9 other oversold dividend stocks you need to know about »
Also see:
Dividend Aristocrats List F Technical Analysis
MSB market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
