BSCP Crowded With Sellers
In trading on Monday, shares of the Invesco BulletShares 2025 Corporate Bond ETF (Symbol: BSCP) entered into oversold territory, changing hands as low as $22.05 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 Invesco BulletShares 2025 Corporate Bond, the RSI reading has hit 27.3 — by comparison, the RSI reading for the S&P 500 is currently 56.0. A bullish investor could look at BSCP's 27.3 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), BSCP's low point in its 52 week range is $22.05 per share, with $22.63 as the 52 week high point — that compares with a last trade of $22.07. Invesco BulletShares 2025 Corporate Bond shares are currently trading down about 0.3% on the day.
