Invesco S&P 500 Top 50 ETF Enters Oversold Territory

During trading on Thursday, shares of the Invesco S&P 500 Top 50 ETF (Symbol: XLG) dipped into oversold territory, reaching a low of $44.18 per share. The Relative Strength Index (RSI), a popular technical indicator used to assess momentum, defines an asset as oversold when its reading falls below 30. Currently, XLG shows an RSI of 29.1, compared to the S&P 500’s RSI of 30.7.

This RSI reading suggests to bullish investors that the recent significant selling pressure may be waning, presenting potential entry opportunities for those looking to buy.

Reviewing the one-year performance of XLG, the ETF reached a low of $39.75, while its 52-week high was $51.80; the last trade was recorded at $44.22. Currently, Invesco S&P 500 Top 50 shares are trading approximately 4.8% lower on the day.

Click here to find out about 9 other oversold dividend stocks worth considering »

Also See:

• Top Stocks Held By Leon Cooperman
• CTEV Options Chain
• RBLD Options Chain

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