Franklin U.S. Low Volatility High Dividend ETF Hits Oversold Mark
RSI Drops to 29.8, Indicating Potential Buy Opportunities
In trading on Friday, shares of the Franklin U.S. Low Volatility High Dividend Index ETF (Symbol: LVHD) fell into what is known as oversold territory, with prices reaching as low as $37.63 per share. Oversold territory is identified using the Relative Strength Index (RSI), a technical indicator that measures momentum on a scale from zero to 100. A stock is classified as oversold when the RSI reading drops below 30.
For the Franklin U.S. Low Volatility High Dividend Index, the RSI stands at 29.8. In comparison, the S&P 500 has an RSI reading of 40.5. This drop could signal a reversal, as bullish investors might view LVHD’s reading as a sign that the current heavy selling trend is winding down. These investors may now be looking for potential buying opportunities.
Examining the stock’s performance over the past year, LVHD’s lowest point was $34.24 per share, while it reached a high of $41.4675 during the same period. Currently, it is trading at $37.63, reflecting a downward move of about 1% on the day.
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Also see:
- OSW Insider Buying
- CITZ Insider Buying
- Axon Enterprise DMA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
