In the case of GraniteShares YieldBOOST BABA, the RSI reading has hit 28.2 — by comparison, the RSI reading for the S&P 500 is currently 47.4. A bullish investor could look at BBYY's 28.2 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), BBYY's low point in its 52 week range is $12.80 per share, with $25.02 as the 52 week high point — that compares with a last trade of $12.80. GraniteShares YieldBOOST BABA shares are currently trading down about 1.9% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
