Vanguard Russell 1000 Growth ETF Hits Oversold Level, Signals Potential Buy Opportunity
In trading on Friday, the Vanguard Russell 1000 Growth ETF (Symbol: VONG) reached oversold territory with shares trading as low as $95.98 each. The term “oversold” is defined using the Relative Strength Index (RSI), a tool in technical analysis that assesses price momentum on a scale from zero to 100. Stocks are generally considered oversold when their RSI falls below 30.
For the Vanguard Russell 1000 Growth ETF, the current RSI reading is 29.5. This is notably lower than the S&P 500’s RSI, which stands at 33.2. A bullish investor may interpret VONG’s RSI of 29.5 as an indication that the recent selling pressure is nearing its limit, potentially opening up opportunities for buying.
Examining the one-year performance chart (see below), VONG’s 52-week range highlights a low of $81.08 and a high of $107.965, with the last trade recorded at $96.51. As of the latest update, Vanguard Russell 1000 Growth shares are experiencing a decline of about 1.1% for the day.
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Additionally consider:
- ETFs Holding ACRE
- CINF Average Annual Return
- DENN shares outstanding history
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
