Vanguard Energy ETF’s RSI Signals Potential Buy Opportunity
During trading on Wednesday, shares of the Vanguard Energy ETF (Symbol: VDE) slipped into oversold territory, reaching a low of $118 per share. Oversold conditions are identified using the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100. A stock is categorized as oversold when its RSI reading falls below 30.
Currently, Vanguard Energy’s RSI stands at 29.6, compared to the S&P 500’s RSI of 34.7. This low reading may suggest that the recent aggressive selling pressure could be waning, prompting bullish investors to seek potential entry points for buying.
Analyzing the one-year performance, VDE’s 52-week low is $115.51 per share, while the 52-week high is $137.91. The last trade for Vanguard Energy shares was noted at $117.97, marking a decrease of about 2.2% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily represent those of Nasdaq, Inc.
