In trading on Thursday, shares of the Invesco Optimum Yield Diversified Commodity Strategy No. K-1 ETF (symbol: PDBC) entered oversold territory, changing hands as low as $13.38 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. If the RSI reading falls below 30 then the stock is considered oversold.
In the case of the Invesco Optimum Yield Diversified Commodity Strategy No. K-1, the RSI reading has reached 29.5 – by comparison, the RSI reading for the S&P 500 currently stands at 40.8. A bullish investor may view PDBC’s 29.5 reading as a sign that the recent heavy sell-off is in the process of coming to an end, and may begin looking for entry point opportunities on the buy side.
Looking at the chart of one-year performance (below), the low point in PDBC’s 52-week range is $13.38 per share, with $20.7599 as the 52-week high — which compares with a previous trade of $13.39. Is. Shares of Invesco Optimum Yield Diversified Commodity Strategy No. K-1 are currently trading down about 1.4% on the day.
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