In the case of John Hancock Corporate Bond, the RSI reading has hit 25.4 — by comparison, the RSI reading for the S&P 500 is currently 51.1. A bullish investor could look at JHCB's 25.4 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), JHCB's low point in its 52 week range is $20.57 per share, with $22.035 as the 52 week high point — that compares with a last trade of $20.72. John Hancock Corporate Bond shares are currently trading off about 1% on the day.
Find out what 9 other oversold stocks you need to know about »
Further JHCB Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
