On Thursday, shares of the iShares California Muni Bond ETF (CMF) fell to $56.18 each, entering oversold territory with a Relative Strength Index (RSI) of 29.6. An asset is considered oversold when the RSI falls below 30; for comparison, the S&P 500 has an RSI of 48.1.
CMF’s 52-week performance shows a low of $53.91 and a high of $57.98, currently trading down 0.6% on the day. Investors may see the low RSI as a potential signal for buying opportunities following the recent heavy selling.
