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AVDE is becoming very oversold Nasdaq

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I.In trading on Monday, shares of AVDE ETF (Symbol: AVDE) entered the territory of oversold, passing from hand to hand only $ 53,785 per share. We determine the area of ​​oversold by using the relative strength index, or RSI, which is an indicator of technical analysis used to measure momentum on a scale from zero to 100. A stock is considered oversold if the RSI falls below 30.

In the case of AVDE, the RSI reading reached 29.5 – for comparison, the RSI for the S&P 500 is currently 34.2. A bullish investor could view AVDE 29.5 readings as a sign that recent big sales are in the process of depletion, and start looking for opportunities for an entry point on the buying side.

Looking at the one-year performance chart (below), the minimum in the 52-week AVDE range is $ 53.785 per share, with $ 65.7852 for the 52-week high, compared to the last trade of $ 53.83. AVDE shares currently trade about 3% per day.

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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.

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