SSG Crowded With Sellers
In the case of Proshares UltraShort Semiconductors, the RSI reading has hit 30.0 — by comparison, the RSI reading for the S&P 500 is currently 68.1.
A bullish investor could look at SSG's 30.0 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), SSG's low point in its 52 week range is $28.20 per share, with $50.08 as the 52 week high point — that compares with a last trade of $28.29. Proshares UltraShort Semiconductors shares are currently trading off about 0.8% on the day.