SPDR Blackstone Senior Loan ETF Shows Oversold Signals Amid Market Shift
In trading on Thursday, shares of the SPDR Blackstone Senior Loan ETF (Symbol: SRLN) reached an oversold threshold, with prices dropping as low as $41.03 per share. Oversold territory is determined using the Relative Strength Index (RSI), which gauges market momentum on a scale from zero to 100. An RSI reading below 30 indicates an oversold condition.
Currently, SRLN’s RSI reading stands at 26.6, whereas the S&P 500’s RSI reading is slightly higher at 28.4. This situation might attract bullish investors who view the 26.6 reading as a potential indication that the recent heavy selling is nearing a conclusion, prompting them to consider entry points for buying.
Examining the past year’s performance, SRLN’s 52-week low is $40.71 per share, while the 52-week high is $42.13. The latest trade recorded at $41.03 indicates that shares are trading down approximately 0.3% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
