Proshares UltraShort 20+ Year Treasury (TBT) Enters Oversold Territory

By
A A A

In trading on Friday, shares of the Proshares UltraShort 20+ Year Treasury ETF (Symbol: TBT) entered into oversold territory, changing hands as low as $62.0201 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 to be oversold if the RSI reading falls below 30.

In the case of Proshares UltraShort 20+ Year Treasury, the RSI reading has hit 29.9 - by comparison, the RSI reading for the S&P 500 is currently 55.6. A bullish investor could look at TBT's 29.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), TBT's low point in its 52 week range is $58.23 per share, with $82.80 as the 52 week high point - that compares with a last trade of $62.42. Proshares UltraShort 20+ Year Treasury shares are currently trading off about 1.6% on the day.

Proshares UltraShort 20+ Year Treasury 1 Year Performance Chart

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



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



This article appears in: Investing , ETFs

Referenced Stocks: TBT

BNK Invest

BNK Invest

More from BNK Invest:

Related Videos

Stocks

Referenced

100%

Most Active by Volume

75,750,465
  • $16.77 ▲ 0.36%
59,791,764
  • $101.58 ▲ 0.71%
38,720,622
  • $42.59 ▼ 0.28%
37,416,417
  • $46.52 ▼ 0.51%
35,101,793
  • $16.28 ▲ 0.74%
34,987,975
  • $99.53 ▲ 0.15%
33,760,830
  • $3.63 ▲ 0.69%
32,148,671
  • $17.61 ▲ 0.57%
As of 9/17/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com