Friday Trading Sees SPTS Enter Oversold Territory
In Friday’s trading session, shares of the SPDR Portfolio Short Term Treasury ETF (Symbol: SPTS) fell into oversold territory, reaching a low of $29.0401 per share. This assessment comes from analyzing the Relative Strength Index (RSI), a tool used to evaluate the momentum of a stock on a scale from zero to 100. Typically, a stock is deemed oversold when its RSI falls below 30.
For SPTS, the RSI reached 27.8. By contrast, the S&P 500’s RSI is currently at 50.4, indicating differing market sentiment. A savvy investor might view SPTS’s 27.8 reading as a signal that the recent wave of selling could be nearing its conclusion, presenting potential buying opportunities.
Examining performance over the past year, SPTS’s lowest price in its 52-week range was $28.62 per share, with a high of $29.46. The most recent trade showed SPTS at $29.04, reflecting a slight decline of about 0.3% for the day.
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The views expressed in this article are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
