XOVR Crosses Critical Technical Indicator
In the case of SPDR BofA Merrill Lynch Crossover Corporate Bond, the RSI reading has hit 27.5 — by comparison, the RSI reading for the S&P 500 is currently 39.7.
A bullish investor could look at XOVR's 27.5 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), XOVR's low point in its 52 week range is $24.99 per share, with $27.46 as the 52 week high point — that compares with a last trade of $24.99. SPDR BofA Merrill Lynch Crossover Corporate Bond shares are currently trading off about 2.1% on the day.