Invesco S&P 500 Quality ETF Shows Oversold Signals
On Tuesday, the Invesco S&P 500 Quality ETF (Symbol: SPHQ) saw its shares traded at $66.34, entering oversold territory. Oversold territory is determined using the Relative Strength Index (RSI), a momentum-based technical analysis tool that ranges from zero to 100. Typically, an asset is marked as oversold when the RSI drops below 30.
For SPHQ, the RSI has dipped to 29.6, while the RSI for the S&P 500 is even lower at 26.9. This data could indicate to bullish investors that the recent selling pressure may be waning, leading them to consider potential buying opportunities.
Performance Overview
Examining the one-year performance chart below reveals SPHQ’s 52-week trading range, with a low point of $57.17 per share and a high of $71.22. The ETF’s last recorded trade was $66.21, reflecting a decrease of about 1.1% on the day.
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Also see:
- FULT Split History
- ETFs Holding ARIS
- Funds Holding AJAN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
