Invesco National AMT-Free Municipal Bond ETF Hits Oversold Mark
Understanding Trading Trends: A Closer Look at RSI
In trading on Tuesday, shares of the Invesco National AMT-Free Municipal Bond ETF (Symbol: PZA) reached an oversold status, trading as low as $23.19 per share. The Relative Strength Index (RSI), a popular technical analysis tool measuring momentum, defines oversold territory as an RSI reading below 30. Currently, PZA’s RSI reading stands at 29.5, while the S&P 500 has a comparatively healthier reading of 42.7.
A bullish investor may interpret PZA’s 29.5 RSI as an indication that the recent selling pressure could be subsiding, potentially signaling an opportune moment to consider buying.
Examining PZA’s one-year performance, the stock’s lowest point in the past 52 weeks was $23.19, while its highest reached $24.34. As of the most recent trade, shares are priced at $23.29, reflecting a slight decline of about 0.1% on the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
