Key Indicators Signal Potential Opportunities for Investors
On Friday, shares of the iShares U.S. Treasury Bond ETF (Symbol: GOVT) dropped into oversold territory, reaching a low of $22.84 per share. The term “oversold” is defined by the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100. A stock is classified as oversold when its RSI reading falls below 30.
Currently, the RSI for iShares U.S. Treasury Bond stands at 28.2, notably lower than the S&P 500’s RSI of 60.7. This may indicate that the recent intense selling could be losing steam, which might entice bullish investors to seek buying opportunities.
Reviewing GOVT’s one-year performance reveals that its low for the 52-week range is $21.69 per share, while the peak reached $23.689. As of the latest trade at $22.84, shares are down approximately 0.2% for the day.
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Also see:
- HZN Options Chain
- SW Average Annual Return
- ETD Historical Stock Prices
The views and opinions expressed herein belong to the author and do not necessarily reflect those of Nasdaq, Inc.
