In the case of iShares 7-10 Year Treasury Bond, the RSI reading has hit 28.2 — by comparison, the RSI reading for the S&P 500 is currently 49.6. A bullish investor could look at IEF's 28.2 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), IEF's low point in its 52 week range is $90.685 per share, with $99.18 as the 52 week high point — that compares with a last trade of $93.80. iShares 7-10 Year Treasury Bond shares are currently trading off about 0.4% on the day.
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