iShares Intermediate Government/Credit Bond ETF (GVI) Hits Oversold Levels
Shares of GVI Reach a Low Point as Selling Pressure Mounts
On Tuesday, shares of the iShares Intermediate Government/Credit Bond ETF (Symbol: GVI) fell into oversold territory, trading as low as $105.01 per share. This condition is assessed using the Relative Strength Index (RSI), a tool that gauges market momentum on a scale from zero to 100. A stock is deemed oversold when its RSI falls below 30.
For GVI, the RSI stands at 28.3, suggesting that market selling may be losing steam. In contrast, the S&P 500’s current RSI reading is 61.3, indicating a stronger market momentum.
A bullish investor might interpret GVI’s RSI of 28.3 as a potential signal that recent selling pressure is tapering off, creating opportunities for buying.
Examining its one-year performance, GVI’s lowest point in the past 52 weeks was $100.34 per share, while its peak reached $107.4999. The last trade price of GVI was noted at $105.11, reflecting a slight decline of about 0.1% for the day.
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Related Information:
- CWAN Market Capitalization History
- Institutional Holders of VSH
- Funds Holding OSEA
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
