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ProShares ProShares UltraShort 20+ Year Treasury Getting Very Oversold


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In trading on Thursday, shares of the ProShares ProShares UltraShort 20+ Year Treasury ETF (Symbol: TBT) entered into oversold territory, changing hands as low as $35.12 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 ProShares UltraShort 20+ Year Treasury, the RSI reading has hit 26.8 - by comparison, the RSI reading for the S&P 500 is currently 31.8. A bullish investor could look at TBT's 26.8 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 $33.65 per share, with $41.6957 as the 52 week high point - that compares with a last trade of $35.18. ProShares ProShares UltraShort 20+ Year Treasury shares are currently trading off about 2.3% on the day.

ProShares ProShares UltraShort 20+ Year Treasury 1 Year Performance Chart

Click here to find out what 9 other oversold dividend 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 Nasdaq, Inc.





This article appears in: Investing , ETFs
Referenced Symbols: TBT



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