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Daily 7-10 Year Treasury Bear 3x Shares (TYO) Enters Oversold Territory

Tickers in this article: TYO
In trading on Friday, shares of the Daily 7-10 Year Treasury Bear 3x Shares ETF entered into oversold territory, changing hands as low as $21.42 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 Daily 7-10 Year Treasury Bear 3x Shares, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 57.7.

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A bullish investor could look at TYO's 29.2 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), TYO's low point in its 52 week range is $21.42 per share, with $26.80 as the 52 week high point — that compares with a last trade of $21.45. Daily 7-10 Year Treasury Bear 3x Shares shares are currently trading off about 1% on the day.

Daily 7-10 Year Treasury Bear 3x Shares 1 Year Performance Chart