Shares Of SDOW Now Oversold
In the case of Proshares UltraPro Short Dow30, the RSI reading has hit 29.8 — by comparison, the RSI reading for the S&P 500 is currently 62.3.
A bullish investor could look at SDOW's 29.8 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), SDOW's low point in its 52 week range is $46.75 per share, with $98.28 as the 52 week high point — that compares with a last trade of $46.98. Proshares UltraPro Short Dow30 shares are currently trading off about 1.7% on the day.