Janus Henderson Mortgage-Backed Securities ETF Enters Oversold Zone

On Friday, shares of the Janus Henderson Mortgage-Backed Securities ETF (Symbol: JMBS) reached an oversold status, trading as low as $43.59 per share. We define oversold status using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale of zero to 100. A stock is considered oversold if its RSI drops below 30.

Currently, JMBS has an RSI reading of 29.6, while the S&P 500 index stands at a higher 39.6. This could signal to bullish investors that the recent selling pressure may be losing strength, making it a potential entry point for buying.

Examining the one-year performance chart, JMBS has recorded a low of $43.40 per share within its 52-week range, with a high of $47.06. The last traded price for JMBS stands at $43.66, reflecting a decrease of about 1.1% on the day.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.