PABU Enters Oversold Territory
By The Online Investor Staff, Friday, April 19, 4:31 PM ET
In trading on Friday, shares of the PABU ETF (NASDAQ:PABU) entered into oversold territory, changing hands as low as $53.17 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 PABU, the RSI reading has hit 28.8 — by comparison, the RSI reading for the S&P 500 is currently 32.0.
A bullish investor could look at PABU's 28.8 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), PABU's low point in its 52 week range is $44.0933 per share, with $57.10 as the 52 week high point — that compares with a last trade of $53.17. PABU shares are currently trading down about 1.3% on the day.
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
Find the right mix of model portfolios today at PortfolioChannel.com
This Article's Word Cloud:
Days
Dollars
Friday
Index
Join
Looking
Offer
PABU
Relative
Seven
Special
Strength
ValueForum
about
analysis
begin
below
bullish
case
changing
chart
compares
comparison
considered
conversation
could
currently
define
down
entered
entry
exhausting
falls
hands
heavy
high
income
indicator
look
mdash
oversold
point
reading
share
shares
territory
that
trading
week
with
