Proshares UltraShort 7-10 Year Treasury (PST) Enters Oversold Territory
In the case of Proshares UltraShort 7-10 Year Treasury, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 57.7.
A bullish investor could look at PST's 29.6 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), PST's low point in its 52 week range is $26.40 per share, with $30.21 as the 52 week high point — that compares with a last trade of $26.47. Proshares UltraShort 7-10 Year Treasury shares are currently trading off about 0.7% on the day.