Shares Of BABS Now Oversold
In the case of SPDR Nuveen Barclays Build America Bond, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 46.9.
A bullish investor could look at BABS's 29.6 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), BABS's low point in its 52 week range is $53.47 per share, with $65.63 as the 52 week high point — that compares with a last trade of $54.45. SPDR Nuveen Barclays Build America Bond shares are currently trading off about 1.1% on the day.