In trading on Monday, shares of the Proshares Ultra DJ-UBS Crude Oil ETF (AMEX: UCO) entered into oversold territory, changing hands as low as $27.08 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Monday, shares of the Proshares Ultra DJ-UBS Crude Oil ETF (AMEX: UCO) entered into oversold territory, changing hands as low as $27.08 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
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