Invesco Total Return Bond ETF Shows Oversold Conditions
On Friday, shares of the Invesco Total Return Bond ETF (Symbol: GTO) reached oversold territory, trading as low as $45.50 each. Oversold conditions are determined using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. An asset is designated as oversold if its RSI value falls below 30.
For GTO, the RSI stands at 25.1. In contrast, the current RSI for the S&P 500 is 39.6. Bullish investors might interpret GTO’s 25.1 RSI as an indication that recent selling pressure is easing, prompting them to search for potential buying opportunities.
Examining GTO’s one-year performance, its 52-week low is $45.32, while the high stands at $48.79. As of the last trade, GTO was priced at $45.55, reflecting a decline of about 0.9% for the day.
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Also see:
- TER DMA
- Funds Holding THRK
- Institutional Holders of CYXT
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
