Vanguard Long-Term Bond ETF Hits Oversold Mark: What It Means for Investors
Current Trading Details
In trading on Monday, shares of the Vanguard Long-Term Bond ETF (Symbol: BLV) fell into oversold territory, trading as low as $71.56 per share. Oversold territory is defined by the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100. A stock is deemed oversold when the RSI dips below 30.
For Vanguard Long-Term Bond, the RSI reading has reached 29.0, while the S&P 500 stands at 66.2. This indicates that BLV has been experiencing significant selling pressure.
Potential Opportunities for Investors
A bullish investor might interpret the 29.0 reading as a signal that the intense selling could be nearing its end, possibly presenting an opportunity to enter the market for this ETF.
Performance Overview
Taking a look at the one-year performance chart (below), we see that BLV’s lowest price in the past 52 weeks was $62.95 per share, with a peak of $76.87. In comparison, the last trading price was $71.54. At present, shares of Vanguard Long-Term Bond are trading down approximately 1.4% for the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
