SJNK Crowded With Sellers

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In trading on Thursday, shares of the SPDR Barclays Short Term High Yield Bond ETF (Symbol: SJNK) entered into oversold territory, changing hands as low as $30.47 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 SPDR Barclays Short Term High Yield Bond, the RSI reading has hit 27.1 - by comparison, the RSI reading for the S&P 500 is currently 52.7. A bullish investor could look at SJNK's 27.1 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), SJNK's low point in its 52 week range is $30.30 per share, with $31.08 as the 52 week high point - that compares with a last trade of $30.50. SPDR Barclays Short Term High Yield Bond shares are currently trading down about 0.5% on the day.

SPDR Barclays Short Term High Yield Bond 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: SJNK

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