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| EAGG Crosses Critical Technical IndicatorBy Dividend Channel Staff, Wednesday, September 27, 4:36 PM ET
In trading on Wednesday, shares of the iShares ESG Aware U.S. Aggregate Bond ETF (NYSE:EAGG) entered into oversold territory, changing hands as low as $45.115 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 iShares ESG Aware U.S. Aggregate Bond, the RSI reading has hit 29.8 — by comparison, the RSI reading for the S&P 500 is currently 32.5. A bullish investor could look at EAGG's 29.8 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), EAGG's low point in its 52 week range is $44.9001 per share, with $48.73 as the 52 week high point — that compares with a last trade of $45.22. iShares ESG Aware U.S. Aggregate Bond shares are currently trading down about 0.3% on the day.
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