Shares Of MBG Now Oversold
In the case of SPDR Barclays Mortgage Backed Bond, the RSI reading has hit 25.7 — by comparison, the RSI reading for the S&P 500 is currently 58.8.
A bullish investor could look at MBG's 25.7 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), MBG's low point in its 52 week range is $26.91 per share, with $28.01 as the 52 week high point — that compares with a last trade of $26.95. SPDR Barclays Mortgage Backed Bond shares are currently trading off about 0.4% on the day.