Vanguard Health Care ETF Hits Oversold Levels Amid Market Volatility
On Monday, shares of the Vanguard Health Care ETF (Symbol: VHT) fell into oversold territory, trading as low as $258.31 each. This classification of “oversold” is determined using the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100. A stock is labeled oversold when its RSI drops below 30.
Currently, Vanguard Health Care has an RSI of 29.7, while the S&P 500 presents a contrasting RSI of 63.4. This indication suggests that VHT could be nearing the end of its recent selling frenzy, prompting bullish investors to consider potential buying opportunities.
Examining VHT’s performance over the past year reveals a low of $243.34 and a high of $289.1385. The latest trading price was recorded at $258.19, reflecting a decline of approximately 0.8% for the day.
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The views and opinions expressed herein are the author’s and do not necessarily reflect those of Nasdaq, Inc.
