JPMorgan Income ETF Shares Enter Oversold Territory

In trading on Wednesday, shares of the JPMorgan Income ETF (Symbol: JPIE) fell into oversold territory, reaching as low as $45.20 per share. Oversold conditions are identified using the Relative Strength Index (RSI), a technical analysis tool that measures stock momentum on a scale from zero to 100. Typically, a stock is viewed as oversold when its RSI drops below 30.

For JPMorgan Income, the RSI reading currently stands at 23.7, which is significantly lower compared to the S&P 500’s RSI of 22.7. This situation may signal to bullish investors that the recent wave of selling is nearing its end, prompting potential buying opportunities.

Analyzing JPIE’s performance over the past year shows that its lowest point in the 52-week range was $44.80, while its highest was $46.43. The most recent trade price is $45.24. As of now, JPMorgan Income shares are trading down about 0.5% for the day.

Click here to find out what 9 other oversold dividend stocks you need to know about »

Also see:

• Chemicals Dividend Stocks
• DRS Market Cap History
• FirstEnergy Average Annual Return

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