Vanguard Materials ETF Shows Signs of Overselling: What Investors Should Know
On Tuesday, shares of the Vanguard Materials ETF (Symbol: VAW) dipped into oversold territory, trading as low as $186.19 per share. Oversold territory is identified using the Relative Strength Index (RSI), a tool in technical analysis that gauges momentum on a scale from zero to 100. A reading below 30 indicates that a stock is oversold.
Currently, Vanguard Materials has an RSI of 29.6, while the S&P 500’s reading sits at a healthier 46.2. For bullish investors, VAW’s low reading might suggest that the intense selling pressure is diminishing, presenting potential buying opportunities.
Examining VAW’s one-year performance, the shares have a low of $179 and a high of $215.82 within the past 52 weeks. The last trade recorded was $186.14, marking a slight drop of about 0.5% on the day.
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Additional Resources:
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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.
