In trading on Tuesday, shares of the Capital Group Short Duration Municipal Income ETF (CGSM) dipped to an oversold territory, reaching a low of $26.29 per share. The Relative Strength Index (RSI) for CGSM is currently at 25.1, indicating significant selling pressure. For context, the RSI of the S&P 500 is at 39.4.
Over the past year, CGSM’s share price has fluctuated between a low of $25.55 and a high of $26.68. As of the last trade, shares were down about 0.4% for the day, trading at $26.30. Investors may perceive the low RSI as a potential signal for buying opportunities as selling momentum appears to be waning.
