In the case of Gotham Short Strategies, the RSI reading has hit 26.6 — by comparison, the RSI reading for the S&P 500 is currently 72.5. A bullish investor could look at SHRT's 26.6 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), SHRT's low point in its 52 week range is $6.39 per share, with $8.19 as the 52 week high point — that compares with a last trade of $6.41. Gotham Short Strategies shares are currently trading off about 1.2% on the day.
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Further SHRT Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
