Invesco S&P 500 Equal Weight ETF Shows Signs of Being Oversold
On Wednesday, shares of the Invesco S&P 500 Equal Weight ETF (Symbol: RSP) traded at a low of $170.98, indicating that they have entered oversold territory. This assessment relies on the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. An asset is considered oversold when its RSI falls below 30.
Currently, RSP has recorded an RSI of 29.6. For comparison, the S&P 500 shows an RSI reading of 29.7. This suggests that the recent selling pressure on RSP might be alleviating, leading bullish investors to consider potential buying opportunities.
Examining RSP’s one-year performance chart, the ETF’s lowest point in the past 52 weeks was $158.83 per share, while the highest point reached $188.16. As of the last trade, RSP was priced at $170.51, reflecting a decline of approximately 0.5% for the day.
Explore additional information on 9 other oversold stocks worth considering »
Also See:
- POZN Historical Stock Prices
- INTF Market Cap History
- ETFs Holding MOS
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
