BSJF Crosses Critical Technical Indicator

In trading on Friday, shares of the Guggenheim BulletShares 2015 High Yield Corporate Bond ETF (BSJF) entered into oversold territory, changing hands as low as $26.3101 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 Guggenheim BulletShares 2015 High Yield Corporate Bond, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 48.0.

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

A bullish investor could look at BSJF's 29.2 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), BSJF's low point in its 52 week range is $26.31 per share, with $27.10 as the 52 week high point — that compares with a last trade of $26.34. Guggenheim BulletShares 2015 High Yield Corporate Bond shares are currently trading down about 0.3% on the day.

Guggenheim BulletShares 2015 High Yield Corporate Bond 1 Year Performance Chart

More from Stocks

Tech Stocks Have You Baffled? Educate Yourself in Some Portfolio Diversification

Tech Stocks Have You Baffled? Educate Yourself in Some Portfolio Diversification

Alphabet Shares Rise on Earnings, Revenue Beat But Some Concerns Remain

Alphabet Shares Rise on Earnings, Revenue Beat But Some Concerns Remain

Semiconductor Stocks Get Smashed Again as Earnings Weakness Continues
Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Video: Jim Cramer on Trade Tariffs, Rising Rates, Kimberly Clark and Hasbro

Video: Jim Cramer on Trade Tariffs, Rising Rates, Kimberly Clark and Hasbro