In the case of ProShares Short S&P500, the RSI reading has hit 29.4 — by comparison, the RSI reading for the S&P 500 is currently 72.2. A bullish investor could look at SH's 29.4 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), SH's low point in its 52 week range is $37.46 per share, with $51.3706 as the 52 week high point — that compares with a last trade of $37.58. ProShares Short S&P500 shares are currently trading down about 0.2% on the day.
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Also see:
KTWO Price Target ESM shares outstanding history
PSO Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
