In the case of ProShares Ultra VIX Short-Term Futures, the RSI reading has hit 27.9 — by comparison, the RSI reading for the S&P 500 is currently 73.6. A bullish investor could look at UVXY's 27.9 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), UVXY's low point in its 52 week range is $31.04 per share, with $119.45 as the 52 week high point — that compares with a last trade of $31.32. ProShares Ultra VIX Short-Term Futures shares are currently trading off about 4.7% on the day.
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Further UVXY Research:
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