TLTD Crowded With Sellers
ETF Channel Staff - Thursday, July 14, 11:02 AMIn trading on Thursday, shares of the TLTD ETF (TLTD) entered into oversold territory, changing hands as low as $54.94 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 TLTD, the RSI reading has hit 28.7 — by comparison, the RSI reading for the S&P 500 is currently 37.9.
A bullish investor could look at TLTD's 28.7 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), TLTD's low point in its 52 week range is $54.94 per share, with $75.75 as the 52 week high point — that compares with a last trade of $54.97. TLTD shares are currently trading off about 2.4% on the day.
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