Morningstar Wide Moat ETF Enters Oversold Territory Amid Heavy Selling
On Thursday, shares of the Morningstar Wide Moat ETF (Symbol: MOAT) traded as low as $87.358, marking a move into oversold territory. This condition is assessed using the Relative Strength Index (RSI), a popular technical analysis tool that measures momentum on a scale from zero to 100. Stocks are categorized as oversold if their RSI value drops below 30.
For the Morningstar Wide Moat ETF, the current RSI reading is 28.8. In comparison, the RSI for the S&P 500 stands at 28.4. Bullish investors may interpret MOAT’s RSI of 28.8 as an indication that the recent intense selling may soon reach its limit, prompting potential buying opportunities.
Examining the one-year performance chart (shown below), MOAT’s lowest price in its 52-week range is $83.63 per share, while the 52-week high is $99.06. The last trade was recorded at $87.75, representing a drop of about 0.9% for the day.
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Additional Resources:
- Funds Holding CSHI
- KRBP Options Chain
- CRBG Average Annual Return
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
