Eaton Vance Total Return Bond ETF Shows Signs of Oversold Conditions

On Friday, trading activity for the Eaton Vance Total Return Bond ETF (Symbol: EVTR) indicated an entry into oversold territory, with shares dipping to as low as $49.44 each. The concept of oversold territory is defined by the Relative Strength Index (RSI), a technical analysis tool that measures market momentum on a scale from zero to 100. A stock is categorized as oversold when its RSI reading falls below 30.

Currently, the RSI reading for Eaton Vance Total Return Bond stands at 26.7. For reference, the RSI for the S&P 500 index is at 39.6, suggesting greater market stability.

Investors with a bullish outlook may interpret this 26.7 RSI as a potential indication that the intensity of recent selling may be waning, possibly highlighting opportunities for entry points in the near future.

Reflecting on its one-year performance, EVTR reached a 52-week low of $48.43 per share and a high of $52.49. The stock was recently traded at $49.49, reflecting a slight decrease of 0.6% for the day.

Discover other oversold stocks worth your attention »

Additional Resources:

• PE History
• Institutional Holders of CXP
• Top Ten Hedge Funds Holding CMPI

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.