On Wednesday, shares of the iShares ESG Aware U.S. Aggregate Bond ETF (Symbol: EAGG) dipped into oversold territory, trading as low as $47.265 per share. Using the Relative Strength Index (RSI)—a tool that measures momentum on a scale of zero to 100—analysts determine oversold conditions when the RSI falls below 30.
The current RSI for EAGG stands at 27.7, indicating significant selling pressure. To put this in perspective, the S&P 500 has an RSI of 64.7 right now. This disparity may suggest that the downward trend for EAGG is losing steam, prompting some bullish investors to seek potential buying opportunities.
Reviewing performance over the past year, EAGG’s lowest price point was recorded at $44.2278 per share, while its highest was $48.9499. As of the latest trades, the ETF is priced at $47.28, representing a slight decline of approximately 0.3% 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.
