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SPDR Portfolio Short Term Corporate Bond (SPSB) Enters Oversold Territory


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In trading on Wednesday, shares of the SPDR Portfolio Short Term Corporate Bond ETF (Symbol: SPSB) entered into oversold territory, changing hands as low as $30.21 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 Portfolio Short Term Corporate Bond, the RSI reading has hit 29.7 - by comparison, the RSI reading for the S&P 500 is currently 44.3. A bullish investor could look at SPSB's 29.7 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), SPSB's low point in its 52 week range is $30.21 per share, with $30.74 as the 52 week high point - that compares with a last trade of $30.23. SPDR Portfolio Short Term Corporate Bond shares are currently trading off about 0.1% on the day.

SPDR Portfolio Short Term Corporate 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 Nasdaq, Inc.



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



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