QID Crosses Critical Technical Indicator
May 08, 2013 at 16:03 PM EDT
In trading on Wednesday, shares of the Proshares UltraShort QQQ ETF (QID) entered into oversold territory, changing hands as low as $23.07 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.