Avantis US Equity ETF Enters Oversold Zone Amid Market Sell-Off

On Thursday, shares of the Avantis US Equity ETF (Symbol: AVUS) fell into oversold territory, trading as low as $88.37 per share. Oversold territory is determined through the Relative Strength Index (RSI), a popular technical analysis tool that measures momentum on a scale from zero to 100. A stock is classified as oversold when its RSI reading dips below 30.

In this instance, Avantis US Equity’s RSI has reached 29.96. For context, the current RSI for the S&P 500 stands at 30.7. A bullish investor may interpret AVUS’s RSI of 29.96 as an indicator that the intense selling pressure might be waning, potentially presenting new buying opportunities.

Examining the one-year performance chart below, AVUS has experienced a low point of $84.26 per share, while its 52-week high was $102.23. At its latest trade, AVUS was priced at $88.38, translating to a decline of approximately 5.4% on 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.