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

Save Money in the Kitchen
Save Money in the Kitchen           

Stocks

Referenced

100%

Most Active by Volume

79,861,821
  • $17.88 ▲ 1.19%
70,089,593
  • $3.96 ▲ 3.13%
54,873,286
  • $14.83 ▲ 1.92%
53,472,034
  • $6.59 ▲ 5.44%
51,282,137
  • $19.75 ▲ 9.00%
51,149,589
  • $12.33 ▲ 8.44%
49,785,947
  • $34.33 ▲ 0.03%
47,339,956
    $5.56 unch
As of 7/28/2015, 04:15 PM

Find a Credit Card

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