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

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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

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