Invesco S&P SmallCap Value ETF Shows Signs of Oversold Conditions
On Thursday, shares of the Invesco S&P SmallCap Value with Momentum ETF (Symbol: XSVM) fell into oversold territory, trading as low as $54.29. Oversold territory is identified using the Relative Strength Index (RSI), a key technical analysis tool measuring momentum on a scale from zero to 100. A stock enters oversold conditions when its RSI drops below 30.
Currently, XSVM’s RSI stands at 29.7, indicating heavy selling pressure. In contrast, the S&P 500 index has an RSI of 52.3. For bullish investors, the 29.7 RSI reading may suggest that the extensive sell-off is nearing its end, presenting potential buying opportunities.
A look at XSVM’s performance over the past year reveals that its lowest point was $50.13 per share, while its highest point reached $61.395. As of the latest trade, XSVM is priced at $54.73, reflecting a minor drop of about 0.1% for the day.
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The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Nasdaq, Inc.
