By: ETF Channel
July 12, 2013 at 10:56 AM EDT
Shares of SCO Now Oversold
In trading on Friday, shares of the Proshares UltraShort DJ-UBS Crude Oil ETF (SCO) entered into oversold territory, changing hands as low as $30.40 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.
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