iShares Core S&P U.S. Growth ETF Enters Oversold Territory
On Friday, shares of the iShares Core S&P U.S. Growth ETF (Symbol: IUSG) dropped into oversold territory, trading as low as $130.14 per share. This assessment comes from using the Relative Strength Index (RSI), a technical analysis tool measuring momentum on a scale from zero to 100. A stock is deemed oversold when its RSI falls below 30.
For the iShares Core S&P U.S. Growth ETF, the RSI reading stands at 28.9. In comparison, the S&P 500 has a higher RSI reading of 33.2.
Bullish investors might interpret the ETF’s 28.9 RSI as an indication that recent substantial selling may be losing momentum, signaling a potential opportunity for purchase.
Analyzing the one-year performance chart, IUSG reached a low point of $109.63 and a high point of $146.99 over the past 52 weeks. The most recent trade was at $130.87, which suggests that shares are currently off by about 1.3% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
