On Tuesday, trading showed that shares of the iShares TIPS Bond ETF (Symbol: TIP) dropped into oversold territory, reaching a low of $107.80 per share. This situation is assessed through the Relative Strength Index (RSI), a technical analysis tool that measures momentum from 0 to 100. A stock is deemed oversold when its RSI drops below 30.
Currently, the RSI for iShares TIPS Bond is at 29.2. For comparison, the S&P 500 has a higher RSI reading of 61.3. This indicates that TIP may be experiencing significant selling pressure.
Investors who are optimistic about the market might interpret TIP’s 29.2 RSI as a hint that the aggressive selling could be slowing down. They may start searching for favorable buying opportunities.
Examining TIP’s one-year performance reveals that its lowest price in the past 52 weeks was $102.46, with the highest being $111.06. The most recent trading price was $107.91, reflecting a decrease of about 0.1% on the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
