On Friday, shares of the Fidelity Municipal Bond Opportunities ETF (Ticker: FMUB) slipped into oversold territory, trading as low as $50 per share. Oversold conditions are defined using the Relative Strength Index (RSI), a technical momentum indicator measured on a scale from zero to 100. An asset is considered oversold when its RSI falls below 30.
Fidelity Municipal Bond Opportunities currently shows an RSI reading of 27.1, compared to the S&P 500’s RSI of 54.0. This oversold reading may signal to bullish investors that recent selling pressure is nearing exhaustion, potentially presenting a buying opportunity.
Reviewing the one-year performance chart below, FMUB has traded as low as $49.80 per share over the past 52 weeks, with a 52-week high of $53.88. The last trade was recorded at $50.16, with shares currently down approximately 0.4% for the day.
