XPP Crowded With Sellers
In the case of Proshares Ultra FTSE China 25, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 51.9.
A bullish investor could look at XPP'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), XPP's low point in its 52 week range is $38.48 per share, with $67.75 as the 52 week high point — that compares with a last trade of $43.24. Proshares Ultra FTSE China 25 shares are currently trading down about 6.3% on the day.