Hartford Total Return Bond ETF Hits Oversold Levels Amid Market Fluctuations
On Tuesday, shares of the Hartford Total Return Bond ETF (Symbol: HTRB) dropped into oversold territory, trading as low as $32.99 per share. This term refers to a situation where a stock may be undervalued after excessive selling pressure. A popular measure to identify this is the Relative Strength Index (RSI), which ranges from zero to 100. Generally, an RSI below 30 indicates that a stock is oversold.
Currently, Hartford Total Return Bond has an RSI of 29.6. For comparison, the S&P 500 index shows a higher RSI at 42.7. Investors with a bullish outlook might interpret HTRB’s 29.6 reading as a potential signal that the recent wave of selling is losing steam, suggesting they should seek buying opportunities.
Looking at the performance chart over the last year, HTRB’s lowest point in its 52-week range was $32.67, while its highest reached $35.34. The most recent trade stands at $33.00, indicating that shares are down about 0.1% on the day.
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Additional Resources:
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
