On Tuesday, trading activity revealed that shares of the iShares— iBonds— Dec 2031 Term Corporate ETF (Symbol: IBDW) dropped below $20.61 per share, entering oversold territory. This situation is identified using the Relative Strength Index (RSI), a tool that assesses momentum on a scale from zero to 100. A reading below 30 indicates that a stock is considered oversold.
The current RSI for IBDW stands at 29.8, notably lower than the S&P 500’s reading of 61.3. Investors who are bullish on the ETF might interpret this drop as a sign that overwhelming selling pressure is beginning to wane. Consequently, they may start seeking opportunities to buy in at a lower price.
Examining the one-year performance chart, IBDW’s lowest point reached over the last 52 weeks was $18.905, while the highest stood at $21.39. Today’s trading shows the stock last at $20.67, reflecting a decrease of approximately 0.2% for the day.
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Related Information:
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The views and opinions expressed here are solely those of the author and do not reflect those of Nasdaq, Inc.
