Recent Trading Activity Shows Potential Opportunities for Investors
In trading on Thursday, shares of the Invesco BulletShares 2029 Corporate Bond ETF (Symbol: BSCT) fell into oversold territory, reaching a low of $18.38 per share. This classification is determined using the Relative Strength Index (RSI), a tool for measuring trading momentum ranging from zero to 100. A stock is labeled oversold when its RSI drops below 30.
Currently, BSCT has an RSI of 27.6, suggesting stronger selling pressure compared to the S&P 500, which has an RSI reading of 46.9.
For bullish investors, the 27.6 RSI could indicate that the heavy selling might be waning, presenting potential entry points for purchases.
When examining BSCT’s 52-week performance, its lowest price during this period was $17.3184, while the highest reached $18.96. The latest trade was at $18.39, reflecting a slight decline of about 0.2% for 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.
