Vanguard S&P 500 ETF Stock Shows Oversold Signs Amid Market Trends
On Monday, shares of the Vanguard S&P 500 ETF (Symbol: VOO) entered oversold territory, trading as low as $510.83 per share. The measurement of oversold conditions uses the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale ranging from zero to 100. A stock is deemed oversold if its RSI falls below 30.
Currently, VOO’s RSI stands at 29.3, while the broader S&P 500 index has an RSI of 28.9. This lower reading for VOO might prompt bullish investors to view it as an indicator that the recent trend of heavy selling is nearing its end, potentially creating buying opportunities.
Examining VOO’s performance over the past year, the ETF reached a low of $453.90 and a high of $563.92, compared to its latest trading price of $515.19. Presently, shares of Vanguard S&P 500 are trading down about 2.5% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
