Shares of BITO Now Oversold
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 01 2024
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Source: NASDAQ.COM
- ProShares Bitcoin Strategy RSI Reading: The RSI reading for ProShares Bitcoin Strategy is 29.6, indicating potential exhaustion of recent heavy selling.
- Comparison with S&P 500: In comparison, the RSI reading for the S&P 500 is currently 43.3.
- BITO Performance: BITO's 52-week range is $12.79 to $33.79 per share, with the last trade at $23.23, showing a 9.2% decrease in trading.
- Investor Perspective: A bullish investor might see BITO's RSI reading as an opportunity to consider entry points on the buy side.
- Disclaimer: The views expressed are those of the author and may not reflect those of Nasdaq, Inc.
Analyst Views on BITO
Wall Street analysts forecast BITO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BITO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
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0 Sell
Current: 12.490
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Current: 12.490
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
