In the case of Invesco Aerospace & Defense, the RSI reading has hit 28.5 — by comparison, the RSI reading for the S&P 500 is currently 37.0. A bullish investor could look at PPA's 28.5 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), PPA's low point in its 52 week range is $100.39 per share, with $160.37 as the 52 week high point — that compares with a last trade of $146.12. Invesco Aerospace & Defense shares are currently trading trading flat on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
