SPDR S&P 600 Small Cap Value ETF Hits Oversold Levels
During trading on Thursday, shares of the SPDR S&P 600 Small Cap Value ETF (Symbol: SLYV) reached oversold territory, with prices dipping to as low as $80.505 per share. We determine oversold territory by using the Relative Strength Index (RSI), a popular technical analysis tool that gauges momentum on a scale from zero to 100. A stock is considered oversold when its RSI drops below 30.
For the SPDR S&P 600 Small Cap Value ETF, the RSI has registered at 29.7, while the S&P 500 currently stands at an RSI of 36.6. This lower reading of SLYV may suggest that the recent, significant selling pressure is starting to wane, potentially signaling an entry point for bullish investors.
Reviewing the one-year performance of SLYV, the ETF has a low point of $75.79 in its 52-week range, with a high of $96.14. The last recorded trade for SLYV was $81.30, indicating a decrease of about 0.5% for the day.
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