SPDR S&P 500 Trust ETF Displays Oversold Signals Amid Market Trends

In Monday’s trading session, shares of the SPDR S&P 500 Trust ETF (Symbol: SPY) have entered oversold territory, reaching a low of $555.5901 per share. We determine oversold territory using the Relative Strength Index (RSI), a technical analysis tool that measures market momentum on a scale from zero to 100. A stock is deemed oversold if its RSI reading falls below 30.

Currently, the RSI reading for SPDR S&P 500 Trust stands at 28.7, slightly below the S&P 500’s RSI of 28.9. This signals that the ETF may be near a bottom point, leading bullish investors to see the 28.7 reading as a potential exhaustion of recent selling pressure. As a result, they may consider it a favorable time to seek buying opportunities.

Analyzing the performance chart over the past year, the ETF has seen a low of $493.86 and a high of $613.23, with its last trade noted at $560.35. Notably, SPDR S&P 500 Trust shares are trading flat for the day.

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Also see:

• FBRX shares outstanding history
• IMCC Average Annual Return
• TIPX Historical Stock Prices

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.