iShares Intermediate Government/Credit Bond Getting Very Oversold

In trading on Monday, shares of the iShares Intermediate Government/Credit Bond ETF (Symbol: GVI) entered into oversold territory, changing hands as low as $114.5539 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 iShares Intermediate Government/Credit Bond, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 46.3. A bullish investor could look at GVI's 29.6 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), GVI's low point in its 52 week range is $114.5539 per share, with $118 as the 52 week high point — that compares with a last trade of $114.61. iShares Intermediate Government/Credit Bond shares are currently trading trading flat on the day.

iShares Intermediate Government/Credit Bond 1 Year Performance Chart

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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.

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