In the case of Dimensional California Municipal Bond, the RSI reading has hit 28.0 — by comparison, the RSI reading for the S&P 500 is currently 32.5. A bullish investor could look at DFCA's 28.0 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), DFCA's low point in its 52 week range is $47.8713 per share, with $50.78 as the 52 week high point — that compares with a last trade of $49.70. Dimensional California Municipal Bond shares are currently trading off about 0.2% 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.
