BAPR Crowded With Sellers
ETF Channel Staff - Tuesday, April 16, 1:16 PMIn trading on Tuesday, shares of the BAPR ETF (BAPR) entered into oversold territory, changing hands as low as $38.91 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 BAPR, the RSI reading has hit 28.9 — by comparison, the RSI reading for the S&P 500 is currently 38.6.
A bullish investor could look at BAPR's 28.9 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), BAPR's low point in its 52 week range is $33.20 per share, with $40.42 as the 52 week high point — that compares with a last trade of $38.91. BAPR shares are currently trading off about 0.2% on the day.
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