In trading on Thursday, the Franklin New Jersey Municipal Income ETF (FTNJ) shares reached an oversold status, trading as low as $8.535 per share. This was indicated by an RSI reading of 29.6, which is below the threshold of 30 that defines oversold territory. In contrast, the S&P 500’s RSI stands at 59.4.
The ETF’s 52-week performance shows a low of $8.53 and a high of $8.91, with the last trade recorded at $8.55. Currently, FTNJ shares are down approximately 0.1% for the day, suggesting a potential exhaustion of heavy selling that may create buying opportunities for investors.
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