Fidelity Total Bond ETF Enters Oversold Territory With RSI at 29.8
On Friday, shares of the Fidelity Total Bond ETF (Symbol: FBND) experienced heavy trading activity, reaching an intraday low of $44.325 per share. This movement positions the ETF in what is known as oversold territory, defined by the Relative Strength Index (RSI), a tool used in technical analysis to gauge market momentum on a scale from zero to 100. When the RSI drops below 30, a stock is considered oversold.
For Fidelity Total Bond, the RSI reading is currently at 29.8, noticeably lower than the S&P 500’s RSI of 39.6. A bullish investor might interpret this dip as a sign that the recent selling pressure is diminishing, potentially signaling a favorable point for entering the market on the buy side.
Analyzing its one-year performance, FBND has a 52-week low of $44.0064 per share and a high of $47.22. The most recent trade indicated a price of $44.40, showing that Fidelity Total Bond shares are down approximately 0.9% for the day.
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Additionally see:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
