In Monday’s trading session, shares of the iShares MBS ETF (Symbol: MBB) dropped to $93.435 each, entering an oversold condition. This status is determined using the Relative Strength Index (RSI), a tool that gauges momentum from zero to 100. A reading below 30 indicates a potentially oversold stock.
For iShares MBS, the RSI stands at 29.4. In comparison, the S&P 500 is performing better with an RSI reading of 66.2.
Investor Outlook and Historical Performance
A bullish investor might see the low RSI of 29.4 as a hint that the significant sell-off may be concluding, suggesting a possible buying opportunity.
Analyzing the past year, MBB recorded a low of $85.28 and a high of $96.76 within its 52-week range. The most recent trading price was $93.45, marking a decline of about 0.7% for the day.
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Also see:
• OXY Dividend History
• IIAC market cap history
• AGQ Options Chain
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
