In the case of SPDR Bloomberg Convertible Securities, the RSI reading has hit 29.7 — by comparison, the RSI reading for the S&P 500 is currently 34.7. A bullish investor could look at CWB'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), CWB's low point in its 52 week range is $64.56 per share, with $73.435 as the 52 week high point — that compares with a last trade of $70.11. SPDR Bloomberg Convertible Securities shares are currently trading off about 0.1% on the day.
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