iMGP DBi Managed Futures ETF Hits Oversold Mark, Sparks Investor Interest
RSI Indicator Declares DBMF Oversold, Potential Buying Opportunity Emerges
In trading on Friday, shares of the iMGP DBi Managed Futures Strategy ETF (Symbol: DBMF) fell to $26.01 per share, entering what analysts describe as oversold territory. This terminology comes from the Relative Strength Index (RSI), a technical analysis tool measuring momentum on a scale of zero to 100. An RSI reading below 30 indicates that a stock is oversold.
Currently, DBMF stands at an RSI of 24.0, which is lower than the S&P 500’s reading of 45.9. For bullish investors, a lower RSI often signals that selling pressure may be waning, suggesting a potential entry point for new investments.
Reviewing the one-year performance chart (shown below), DBMF has seen a low point of $25.60 and a 52-week high of $30.6299, with the last trade recorded at $26.05. As of now, shares of the iMGP DBi Managed Futures Strategy are down approximately 3.4% for the day.
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Also see:
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BOAT Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
