USHY crowded with sellers | Nasdaq


IDuring Monday’s trading, shares of the iShares Broad USD High Yield Corporate Bond ETF (Symbol: USHY) entered oversold territory, changing hands as low as $37.7827 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 Broad USD High Yield Corporate Bond, the RSI reading reached 26.8 โ€“ in comparison, the RSI reading for the S&P 500 is currently 41.8. A bullish investor might take the 26.8 reading from USHY as a sign that the recent selloff is running out, and start looking for entry point opportunities on the buy side.

Looking at a one-year performance chart (below), USHY’s low point in its 52-week range is $37.7827 per share, with $41.80 as its 52-week high โ€“ compare with a final trade of $37.84. iShares Broad USD High Yield Corporate Bond shares are currently trading down around 0.9% on the day.

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


nasdaq

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button