Invesco FTSE RAFI US 1500 Small-Mid ETF Hits Oversold Levels
Investors Weigh Opportunities as Market Dynamics Shift
On Monday, shares of the Invesco FTSE RAFI US 1500 Small-Mid ETF (Symbol: PRFZ) traded down to $41.37 per share, signaling a move into oversold territory. The Relative Strength Index (RSI), a tool used in technical analysis, measures momentum on a scale from zero to 100. A stock is classified as oversold when its RSI drops below 30.
For PRFZ, the current RSI is noted at 29.0. In comparison, the S&P 500 has an RSI of 42.9. A bullish investor might interpret PRFZ’s low reading as an indication that recent selling activity may be nearing its end, prompting them to consider buying opportunities.
Examining its 52-week performance, PRFZ recorded a low of $35.08 and a high of $45.80, with the latest trading price at $41.49. Currently, shares of Invesco FTSE RAFI US 1500 Small-Mid are down approximately 1.3% today.
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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.
