Shares of the iShares Core Moderate Allocation ETF (Symbol: AOM) have recently dropped into oversold conditions during Friday’s trading session, reaching a low of $43.27 per share. This oversold status is determined using the Relative Strength Index (RSI), which gauges stock momentum on a scale from zero to 100. A stock is considered oversold when the RSI is below 30.
Currently, AOM’s RSI stands at 25.7, indicating significant selling pressure. For comparison, the RSI for the S&P 500 is at 39.7. This difference shows that AOM is experiencing more intense selling than the broader market.
Investors optimistic about the stock might interpret the RSI reading of 25.7 as a signal that the heavy selling is starting to slow down. They may begin searching for potential buying opportunities as the stock appears to be bottoming out.
Reviewing AOM’s performance over the last year, the ETF has a low point in its 52-week trading range of $40.75 per share, contrasted with a high of $45.31. Presently, AOM shares are trading at $43.47, reflecting a slight decline of about 1.1% 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.
