ILTB Crosses Critical Technical Indicator

In trading on Monday, shares of the iShares Core 10+ Year USD Bond ETF (ILTB) entered into oversold territory, changing hands as low as $61.8601 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 iShares Core 10+ Year USD Bond, the RSI reading has hit 28.0 — by comparison, the RSI reading for the S&P 500 is currently 55.2.

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

A bullish investor could look at ILTB'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), ILTB's low point in its 52 week range is $59.44 per share, with $67.38 as the 52 week high point — that compares with a last trade of $61.86. iShares Core 10+ Year USD Bond shares are currently trading off about 0.8% on the day.

iShares Core 10+ Year USD Bond 1 Year Performance Chart

More from Stocks

Dow Rises for First Time in 9 Days, Oil Soars as OPEC Agrees to Boost Output

Dow Rises for First Time in 9 Days, Oil Soars as OPEC Agrees to Boost Output

GM Defies Trump's Trade Outlook by Building New Chevy Blazer in Mexico

GM Defies Trump's Trade Outlook by Building New Chevy Blazer in Mexico

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: Here Is Why Carvana Isn't Worried About Amazon

Jim Cramer: Okta Is a Very Expensive Stock

Jim Cramer: Okta Is a Very Expensive Stock

Here's Why Tesla's Solar Shakeup Makes Sense

Here's Why Tesla's Solar Shakeup Makes Sense