Proshares UltraShort Basic Materials (SMN) Enters Oversold Territory - InvestingChannel

Proshares UltraShort Basic Materials (SMN) Enters Oversold Territory

In trading on Friday, shares of the Proshares UltraShort Basic Materials ETF (SMN) entered into oversold territory, changing hands as low as $31.52 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..