Markets
MUB

iShares National Muni Bond Getting Very Oversold

In trading on Thursday, shares of the iShares National Muni Bond ETF (Symbol: MUB) entered into oversold territory, changing hands as low as $115.485 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 National Muni Bond, the RSI reading has hit 28.6 — by comparison, the RSI reading for the S&P 500 is currently 61.6. A bullish investor could look at MUB's 28.6 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), MUB's low point in its 52 week range is $114.9113 per share, with $118.04 as the 52 week high point — that compares with a last trade of $115.46. iShares National Muni Bond shares are currently trading down about 0.3% on the day.

iShares National Muni Bond 1 Year Performance Chart

Free Report: Top 7%+ Dividends (paid monthly)

Find out what 9 other oversold stocks you need to know about »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MUB

Other Topics

Stocks ETFs

Latest Markets Videos

BNK Invest

BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally.

Learn More