In the case of iShares Convertible Bond, the RSI reading has hit 27.4 — by comparison, the RSI reading for the S&P 500 is currently 32.0. A bullish investor could look at ICVT's 27.4 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), ICVT's low point in its 52 week range is $70.56 per share, with $80.215 as the 52 week high point — that compares with a last trade of $76.02. iShares Convertible Bond shares are currently trading off about 0.6% on the day.
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Also see:
Leon Cooperman Stock Picks OCRX Options Chain
Institutional Holders of GLTR
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
