Vanguard Russell 1000 Value ETF Hits Oversold Territory

On Wednesday, trading reports indicated that shares of the Vanguard Russell 1000 Value ETF (Symbol: VONV) dropped into oversold territory, with prices as low as $80.55 per share. This determination is made using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. A stock is classified as oversold when its RSI falls below 30.

For the Vanguard Russell 1000 Value ETF, the RSI reading currently stands at 29.8. Comparatively, the S&P 500’s RSI is slightly lower at 29.7. This suggests that the recent wave of selling may be starting to wane. Bullish investors might interpret this RSI figure as an indication that it could be time to seek buying opportunities.

Examining the one-year performance of VONV, the ETF’s 52-week low was found at $74.11, while its peak was at $87.97. In recent trading, the ETF’s last price was $80.52, reflecting a modest decline of approximately 0.7% for the day.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.