Vanguard Short-Term Corporate Bond ETF (VCSH) Hits Oversold Level: What Should Investors Consider?
On Friday, shares of the Vanguard Short-Term Corporate Bond ETF (Symbol: VCSH) fell into oversold territory, hitting a low of $78.1823 per share. This status is determined by the Relative Strength Index (RSI), a technical analysis tool that assesses momentum on a scale from zero to 100. An asset is labeled as oversold when its RSI dips below 30.
Currently, VCSH’s RSI stands at 28.7, indicating potential exhaustion of the recent selling trend. In comparison, the S&P 500 has an RSI reading of 50.4, suggesting a more balanced market condition overall.
For bullish investors, the 28.7 RSI might signal that heavy selling is nearing its end, presenting potential opportunities for purchasing shares at a lower price.
Examining VCSH’s one-year performance chart, the ETF has a 52-week low of $75.06 per share and a high of $79.54. With the last trade recorded at $78.19, VCSH is currently down about 0.3% for 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 those of Nasdaq, Inc.
