On Tuesday, shares of the iShares 7-10 Year Treasury Bond ETF (Symbol: IEF) reached an oversold status, trading as low as $93.74 per share. We use the Relative Strength Index (RSI) to identify oversold conditions, which ranges from zero to 100. When the RSI falls below 30, it indicates that a stock may be oversold.
Currently, IEF has an RSI reading of 28.2. In contrast, the S&P 500 index has a more stable RSI of 49.6. This suggests that the selling pressure on IEF may be nearing its limit, presenting potential buying opportunities for optimistic investors.
The one-year performance chart shows that the lowest point for IEF in the past 52 weeks was $90.685 per share, while the highest reached $99.18. As of the latest trade, shares of IEF are priced at $93.80, reflecting a slight decline of about 0.4% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
