IShares Core Long-Term U.S. Bond (ILTB) Enters Oversold Territory
In the case of iShares Core Long-Term U.S. Bond, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 49.9.
A bullish investor could look at ILTB'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), ILTB's low point in its 52 week range is $55.35 per share, with $66.49 as the 52 week high point — that compares with a last trade of $55.40. iShares Core Long-Term U.S. Bond shares are currently trading down about 2.9% on the day.