Oversold Territory: SPDR Bloomberg Barclays High Yield Bond ETF (JNK)

Share This Article
November 15, 2018 11:42am NYSE:JNK

NYSE:JNK | News, Ratings, and Charts

From ETF Channel: In trading on Thursday, shares of the SPDR Bloomberg Barclays High Yield Bond ETF (Symbol: JNK) entered into oversold territory, changing hands as low as $34.59 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 SPDR Bloomberg Barclays High Yield Bond, the RSI reading has hit 27.8 — by comparison, the RSI reading for the S&P 500 is currently 37.3. A bullish investor could look at JNK’s 27.8 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), JNK’s low point in its 52 week range is $34.58 per share, with $37.05 as the 52 week high point — that compares with a last trade of $34.58. SPDR Bloomberg Barclays High Yield Bond shares are currently trading off about 0.6% on the day.


The SPDR Bloomberg Barclays High Yield Bond ETF (JNK) was trading at $34.62 per share on Thursday morning, down $0.17 (-0.49%). Year-to-date, JNK has declined -4.04%, versus a 1.42% rise in the benchmark S&P 500 index during the same period.

JNK currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #2 of 50 ETFs in the High Yield Bond ETFs category.


This article is brought to you courtesy of ETF Channel.


7 Best ETFs for the NEXT Bull Market

Read Next



Free Investing Ideas Newsletter!

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

Most Popular



5 WINNING Stock Chart Patterns

Explore More from ETFDailyNews.com

Free Investment Newsletter

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories