In the case of PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund, the RSI reading has hit 26.3 — by comparison, the RSI reading for the S&P 500 is currently 45.6. A bullish investor could look at HYS's 26.3 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), HYS's low point in its 52 week range is $88.7932 per share, with $95.88 as the 52 week high point — that compares with a last trade of $93.58. PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund shares are currently trading down about 0.8% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
