Vanguard Mega Cap ETF Enters Oversold Territory with Promising RSI
On Monday, trading revealed that shares of the Vanguard Mega Cap ETF (Symbol: MGC) fell into oversold territory, with prices reaching as low as $203.82 per share. Oversold conditions are identified using the Relative Strength Index (RSI), a widely used technical analysis tool measuring momentum on a scale from zero to 100. A stock is determined to be oversold when the RSI dips below 30.
Currently, the RSI for Vanguard Mega Cap sits at 29.9. In comparison, the S&P 500 has an RSI reading of 31.0. This lower RSI figure may suggest to bullish investors that recent heavy selling pressure could be nearing its end, prompting them to look for potential buying opportunities.
Examining the one-year performance chart, the MGC’s 52-week low stands at $176.66 per share, while the 52-week high reached $222.75. The latest trade price for Vanguard Mega Cap shares was $203.60, reflecting a decline of approximately 2.1% on the day.
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Also See:
- Paychex Average Annual Return
- SEV Shares Outstanding History
- Funds Holding VHNA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
