In trading on Monday, shares of the Schwab High Yield Bond ETF (SCYB) dipped into oversold territory, reaching a low of $26.21 per share. The Relative Strength Index (RSI) for SCYB hit 29.6, indicating potentially exhausted selling pressure, while the S&P 500’s RSI stood at 45.6.
SCYB has a 52-week trading range with a low of $24.73 and a high of $26.78, and was last trading at $26.25, reflecting a decline of about 0.8% for the day. Investors may interpret the current RSI as a signal to look for buying opportunities.
