Health Care Select Sector Fund ETF Hits Oversold Levels Amid Market Volatility
On Monday, shares of the Health Care Select Sector SPDR Fund ETF (Symbol: XLV) reached oversold conditions, trading as low as $139.44 per share. Oversold territory is defined using the Relative Strength Index (RSI), a tool that gauges momentum on a scale from 0 to 100. A stock is deemed oversold if the RSI falls below 30.
Currently, the RSI for XLV stands at 27.6, while the S&P 500 boasts a higher reading of 63.4. This discrepancy may signal to bullish investors that the recent aggressive selling could be nearing its end, prompting a search for buying opportunities.
Examining XLV’s performance over the past year, it has reached a low of $132.72 per share and a high of $159.64. The latest trade closed at $139.37, reflecting a decrease of approximately 1.1% for the day.
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Also see:
- RM Historical Stock Prices
- Funds Holding DSPG
- NERV Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
