iShares Core S&P Total U.S. Stock Market ETF Hits Oversold Levels
In trading on Monday, shares of the iShares Core S&P Total U.S. Stock Market ETF (Symbol: ITOT) dropped to oversold territory, reaching as low as $121.1953 per share. Using the Relative Strength Index (RSI), a technical analysis tool, we determine that a stock is oversold when its RSI falls below 30, indicated here by ITOT’s current reading of 28.4. For comparison, the RSI for the S&P 500 stands at 28.9.
Investors with a bullish outlook might interpret ITOT’s RSI reading of 28.4 as a signal that the recent heavy selling pressure is nearing exhaustion. This could present potential entry points for those looking to buy shares.
Examining ITOT’s performance over the past year, the ETF has a low point of $108.49 per share and a high point of $134.70, with the latest trading price at $122.26. Currently, iShares Core S&P Total U.S. Stock Market shares are down approximately 2.6% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
