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Shares of SPAB Now Oversold

In trading on Wednesday, shares of the SPDR Portfolio Aggregate Bond ETF (Symbol: SPAB) entered into oversold territory, changing hands as low as $24.22 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 SPDR Portfolio Aggregate Bond, the RSI reading has hit 28.9 — by comparison, the RSI reading for the S&P 500 is currently 32.5.

A bullish investor could look at SPAB’s 28.9 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), SPAB’s low point in its 52 week range is $24.15 per share, with $26.18 as the 52 week high point — that compares with a last trade of $24.27. SPDR Portfolio Aggregate Bond shares are currently trading down about 0.4% on the day.



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

Also see:

• Low PE Ratios
• Top Ten Hedge Funds Holding DBX
• Institutional Holders of Travelers Companies

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

Summarize this content to 100 words

In trading on Wednesday, shares of the SPDR Portfolio Aggregate Bond ETF (Symbol: SPAB) entered into oversold territory, changing hands as low as $24.22 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 SPDR Portfolio Aggregate Bond, the RSI reading has hit 28.9 — by comparison, the RSI reading for the S&P 500 is currently 32.5.

A bullish investor could look at SPAB’s 28.9 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), SPAB’s low point in its 52 week range is $24.15 per share, with $26.18 as the 52 week high point — that compares with a last trade of $24.27. SPDR Portfolio Aggregate Bond shares are currently trading down about 0.4% on the day.

Free Report: Top 8%+ Dividends (paid monthly)

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

Also see:
• Low PE Ratios
• Top Ten Hedge Funds Holding DBX
• Institutional Holders of Travelers CompaniesThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/shares-of-spab-now-oversold-2 Shares of SPAB Now Oversold

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