BDC Income (BIZD) Enters Oversold Territory

In trading on Monday, shares of the BDC Income ETF ( BIZD) entered into oversold territory, changing hands as low as $19.83 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 BDC Income, the RSI reading has hit 28.1 — by comparison, the RSI reading for the S&P 500 is currently 60.5.

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A bullish investor could look at BIZD's 28.1 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), BIZD's low point in its 52 week range is $19.23 per share, with $21.71 as the 52 week high point — that compares with a last trade of $19.86. BDC Income shares are currently trading off about 0.9% on the day.

BDC Income 1 Year Performance Chart

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