In trading on Thursday, shares of the BondBloxx BBB Rated 5-10 Year Corporate Bond ETF (Symbol: BBBI) entered into oversold territory, changing hands as low as $49.04 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 BondBloxx BBB Rated 5-10 Year Corporate Bond, the RSI reading has hit 28.0 — by comparison, the RSI reading for the S&P 500 is currently 51.7. A bullish investor could look at BBBI's 28.
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