In trading on Thursday, shares of the T-REX 2X Long RBLX Daily Target ETF (Symbol: RBLU) entered into oversold territory, changing hands as low as $3.17 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 T-REX 2X Long RBLX Daily Target, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 64.2.
A bullish investor could look at RBLU’s 29.9 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), RBLU’s low point in its 52 week range is $2.705 per share, with $103.9533 as the 52 week high point — that compares with a last trade of $3.25. T-REX 2X Long RBLX Daily Target shares are currently trading off about 1.5% on the day.
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Further RBLU Research:
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