Vanguard Extended Duration Treasury ETF Hits Oversold Status
Market Insight: Is It Time to Buy?
In trading on Friday, shares of the Vanguard Extended Duration Treasury ETF (Symbol: EDV) fell to an oversold level, reaching as low as $71.79 per share. Oversold territory is determined using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. A stock becomes oversold when its RSI reading drops below 30.
Currently, the RSI for the Vanguard Extended Duration Treasury stands at 28.7, while the S&P 500’s RSI is at a comparatively stable 48.0. This lower RSI might suggest to bullish investors that the recent downturn in EDV shares could be losing steam, prompting them to scout for potential buying opportunities.
Examining its chart over the past year, EDV’s 52-week range shows a low of $66.87 and a high of $83.97. In contrast, the latest trading price is $71.72. At this moment, Vanguard Extended Duration Treasury shares have dropped approximately 1.9% today.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the opinions of Nasdaq, Inc.
