Invesco S&P 500 Pure Growth ETF Hits Oversold Mark Amid Trading Decline
In trading on Thursday, shares of the Invesco S&P 500 Pure Growth ETF (Symbol: RPG) entered oversold territory, dropping to as low as $37.45 per share. We define oversold territory using the Relative Strength Index (RSI), a key technical analysis indicator measuring momentum on a scale from zero to 100. A stock is considered oversold if the RSI reading falls below 30.
The current RSI reading for Invesco S&P 500 Pure Growth is 29.7, which is slightly below the S&P 500’s RSI of 31.0. Investors with a bullish outlook might interpret RPG’s 29.7 reading as an indication that the recent selling pressure could be reaching its limits, potentially signaling opportunities for buying.
Reviewing the one-year performance of RPG, we see that its 52-week low is $32.44 per share, while the high stands at $45.11. The latest trade price is $37.70, indicating that Invesco S&P 500 Pure Growth shares are currently down about 1% for the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
