JPMorgan Equity Premium Income ETF Hits Oversold Territory
On Thursday, trading revealed that shares of the JPMorgan Equity Premium Income ETF (Symbol: JEPI) fell into oversold territory, with prices dipping to $55.9735 per share. Oversold territory is determined using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. A stock is deemed oversold if its RSI falls below 30.
For JEPI, the current RSI reading is 29.4, while the S&P 500’s RSI stands at 28.4. This suggests that the recent selling pressure for JEPI may be subsiding, providing a potential buying opportunity for bullish investors.
Analyzing its annual performance, JEPI’s 52-week range highlights a low of $54.77 per share and a high of $60.88. Its latest trading price is $56.14, indicating a decline of about 1% for the day.
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Also see:
- ARK Investment Management Top Holdings
- AQWA Average Annual Return
- MAA 13F Filers
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
