In trading on Monday, shares of the First Trust New York Municipal High Income ETF (FMNY) fell to $26.01, entering oversold territory with a Relative Strength Index (RSI) of 28.3, below the critical threshold of 30. In comparison, the S&P 500 has an RSI of 51.9, indicating stronger momentum in the broader market.
FMNY’s current price is near its 52-week low of $25.78, while the highest point over the past year was $27.22. The ETF is currently trading down approximately 0.2% for the day. Investors may view this as a potential buying opportunity as the selling pressure appears to be waning.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
