GMO Systematic Investment Grade Credit Getting Very Oversold

In trading on Wednesday, shares of the GMO Systematic Investment Grade Credit ETF (Symbol: INVG) entered into oversold territory, changing hands as low as $25.42 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 GMO Systematic Investment Grade Credit, the RSI reading has hit 28.6 — by comparison, the RSI reading for the S&P 500 is currently 41.7.

A bullish investor could look at INVG’s 28.6 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), INVG’s low point in its 52 week range is $25.05 per share, with $26.24 as the 52 week high point — that compares with a last trade of $25.42. GMO Systematic Investment Grade Credit shares are currently trading down about 0.7% on the day.

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• Institutional Holders of TZV

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.