Capital Group Core Bond ETF Hits Oversold Territory Amid Market Fluctuations
On Tuesday, shares of the Capital Group Core Bond ETF (Symbol: CGCB) dropped to $25.64, indicating they are currently oversold. An oversold condition is determined using the Relative Strength Index (RSI), a tool that evaluates momentum on a scale from 0 to 100. Stocks with an RSI below 30 are seen as oversold.
For CGCB, the RSI is at 28.1, which contrasts notably with the S&P 500’s RSI of 51.3. This data could serve as a signal for bullish investors, suggesting that the intense selling may be slowing down, presenting potential buying opportunities.
Examining its performance over the past year, CGCB’s lowest point was $25.21, while its highest traded at $27.24. Currently, share prices reflect a minor decline of about 0.7% for the day, with the last recorded price at $25.64.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
