Hartford Total Return Bond ETF Enters Oversold Territory with RSI of 26.7
On Friday, shares of the Hartford Total Return Bond ETF (Symbol: HTRB) dropped into oversold territory, trading as low as $32.90 per share. We define oversold territory using the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100. An asset is deemed oversold when its RSI falls below 30.
For the Hartford Total Return Bond ETF, the RSI has reached 26.7. In comparison, the current RSI for the S&P 500 sits at 39.6. A bullish investor might interpret HTRB’s RSI of 26.7 as an indication that the recent heavy selling may be nearing its end and could signal potential buying opportunities.
Reviewing its one-year performance, HTRB’s 52-week low is $32.67 per share, while its 52-week high is $35.34. The most recent trade price stood at $32.95, reflecting a decline of about 0.8% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
