iShares Core S&P 500 ETF Reaches Oversold Levels Amid Market Volatility
On Monday, the iShares Core S&P 500 ETF (Symbol: IVV) saw its shares drop into oversold territory, trading as low as $558.2501. The Relative Strength Index (RSI), a technical analysis tool measuring momentum between 0 and 100, indicates that a stock is oversold when the RSI falls below 30. Currently, IVV has an RSI reading of 29.1, while the broader S&P 500 reports an RSI of 28.9.
For bullish investors, IVV’s 29.1 RSI could suggest that the recent selling pressure might be tapering off, creating potential opportunities to enter the market on the buy side.
Analyzing its one-year performance, the low for IVV within its 52-week range stands at $496.30 per share, while the high is marked at $616.22. The last traded price was $563.01, indicating that iShares Core S&P 500 shares are currently down approximately 2.5% for the day.
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