SPDR Portfolio Long Term Treasury ETF Shows Oversold Signals
On Wednesday, SPDR Portfolio Long Term Treasury ETF (Symbol: SPTL) experienced significant trading activity, with shares dropping to as low as $25.295. This decline has pushed the ETF into oversold territory, as defined by the Relative Strength Index (RSI). The RSI is a momentum indicator that ranges from zero to 100, indicating overbought or oversold conditions in a market. An RSI reading below 30 suggests a stock is oversold.
For SPDR Portfolio Long Term Treasury, the RSI has registered at 28.5. In contrast, the S&P 500’s current RSI sits at 63.8. A bullish investor may interpret SPTL’s 28.5 RSI as an indication that recent selling pressure might be nearing its end. This could signal potential buying opportunities in the near term.
Reviewing SPTL’s performance over the past year, it has reached a low of $25.295, with a 52-week high of $29.945. The most recent trading price is $25.34, reflecting a decline of approximately 1.6% 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.
