Simplify MBS ETF Shows Oversold Condition Amid Market Volatility

On Friday, trading activity revealed that shares of the Simplify MBS ETF (Symbol: MTBA) reached an oversold state, trading as low as $49.18 per share. This classification relies on the Relative Strength Index (RSI), a common technical analysis tool that measures momentum on a scale from zero to 100. Generally, a stock is deemed oversold when the RSI falls below 30.

Currently, the RSI for Simplify MBS is at 28.3, in contrast to the S&P 500’s RSI, which stands at 39.6. For bullish investors, MTBA’s RSI reading may indicate that the recent significant selling pressure is beginning to diminish, prompting a search for potential buying opportunities.

A review of the ETF’s one-year performance shows that the lowest price in its 52-week range was $49.10 per share, while the highest point reached $51.97. The latest transaction price is $49.27, representing a decrease of approximately 0.7% for 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.