iShares 0-5 Year Investment Grade Corporate Bond (SLQD) enters oversold territory


IDuring Monday’s trading session, shares of the iShares 0-5 Year Investment Grade Corporate Bond ETF (Ticker: SLQD) entered oversold territory, changing hands at just $49.30 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered oversold if the RSI reading falls below 30.

In the case of iShares 0-5 Year Investment Grade Corporate Bond, the RSI reading reached 28.0 – in comparison, the RSI reading for the S&P 500 is currently 54.7. A bullish investor might take the SLQD reading of 28.0 as a sign that the recent sell-off is running out and starting to look for entry point opportunities on the buy side.

Looking at a one-year performance chart (below), SLQD’s low point in its 52-week range is $49.30 per share, with $51.97 as its 52-week high – compare with a final trade of $49.32. iShares 0-5 Year Investment Grade Corporate Bond shares are currently trading down around 0.3% on the day.

Find out what 9 other oversold stocks you need to know »

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