PIMCO Active Bond ETF Hits Oversold Levels Amid Market Activity
On Friday, shares of the PIMCO Active Bond ETF (Symbol: BOND) traded at a low of $88.9508 per share, entering oversold territory. Oversold conditions are determined using the Relative Strength Index (RSI), a technical analysis tool that evaluates momentum on a scale from zero to 100. A stock is classified as oversold when its RSI reading drops below 30.
For PIMCO Active Bond, the current RSI stands at 27.8. In comparison, the S&P 500’s RSI is at 39.6, highlighting BOND’s significant selling pressure.
Bullish investors may interpret BOND’s RSI of 27.8 as an indicator that recent heavy selling may be nearing its end. They might start searching for opportunities to buy at this potentially favorable entry point.
Performance Metrics and Trading Overview
A closer look at BOND’s performance over the past year reveals that it has a low point of $88.8801 per share, with a 52-week high of $95.32. The last recorded trade shows a price of $89.17, reflecting a daily decline of about 1.2%.
Click here to discover additional oversold dividend stocks worth considering.
Related Content:
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
