In trading on Thursday, shares of the YieldMax AAPL Option Income Strategy ETF (Symbol: APLY) entered into oversold territory, changing hands as low as $11.05 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 the case of YieldMax AAPL Option Income Strategy, the RSI reading has hit 27.3 — by comparison, the RSI reading for the S&P 500 is currently 44.6.
A bullish investor could look at APLY’s 27.3 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), APLY’s low point in its 52 week range is $11.05 per share, with $14.21 as the 52 week high point — that compares with a last trade of $11.07. YieldMax AAPL Option Income Strategy shares are currently trading down about 6% on the day.
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Further APLY Research:
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