Invesco Taxable Municipal Bond ETF Enters Oversold Zone: What It Means for Investors
On Friday, shares of the Invesco Taxable Municipal Bond ETF (Symbol: BAB) dropped into oversold territory, reaching a low of $26.95 each. The term “oversold” is defined using the Relative Strength Index (RSI), a key indicator that gauges price momentum on a scale of zero to 100. An asset is classified as oversold when its RSI falls below 30.
For Invesco Taxable Municipal Bond, the current RSI has fallen to 29.3. In contrast, the S&P 500 boasts a significantly higher RSI of 62.5 at this time. This lower RSI might suggest to bullish investors that the recent sell-off could be tapering off, presenting an opportunity to buy.
Examining its performance over the past year, BAB has a low point of $24.29 and a high of $28.1199. In comparison, the latest trade price stands at $26.98, indicating a decline of approximately 0.5% for the day.
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For Additional Insights:
- Stocks Conducting Buybacks That Hedge Funds Are Selling
- RFI Average Annual Return
- Funds Holding GFED
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
