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SOFX

SOFX Crowded With Sellers

April 01, 2026 — 04:24 pm EDT

Written by

BNK Invest for

BNK Invest->

In trading on Wednesday, shares of the Defiance Daily Target 2x Long SOFI ETF (Symbol: SOFX) entered into oversold territory, changing hands as low as $8.82 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. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Defiance Daily Target 2x Long SOFI, the RSI reading has hit 29.98 — by comparison, the RSI reading for the S&P 500 is currently 46.9.

A bullish investor could look at SOFX's 29.98 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), SOFX's low point in its 52 week range is $5.23 per share, with $55.479 as the 52 week high point — that compares with a last trade of $9.02. Defiance Daily Target 2x Long SOFI shares are currently trading down about 2.7% on the day.

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Find out what 9 other oversold stocks you need to know about »

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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.