Invesco FTSE RAFI US 1000 ETF Shares Enter Oversold Territory
On Wednesday’s trading session, shares of the Invesco FTSE RAFI US 1000 ETF (Symbol: PRF) dipped into oversold territory, reaching a low of $39.63 per share. Oversold conditions are determined using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. A stock is deemed oversold when its RSI falls below 30.
Currently, the RSI for Invesco FTSE RAFI US 1000 stands at 28.8, while the S&P 500’s RSI is slightly higher at 29.7. A bullish investor might interpret this 28.8 reading as an indication that the recent wave of selling could be easing, potentially presenting buy opportunity considerations.
Analyzing the one-year performance from the chart below, PRF’s 52-week low is recorded at $36.36 per share, whereas the 52-week high reached $43.015, with the latest trade noted at $39.59. At the moment, Invesco FTSE RAFI US 1000 shares are off approximately 0.4% 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.
