Health Care Select Sector SPDR Fund Enters Oversold Zone
On Monday, shares of The Health Care Select Sector SPDR Fund ETF (Symbol: XLV) traded down to $146.48, crossing into oversold territory. This analysis relies on the Relative Strength Index (RSI), a tool used by investors to gauge momentum on a scale of 0 to 100. Generally, a stock is deemed oversold when its RSI falls below 30.
Currently, the RSI for XLV stands at 28.3, indicating heavy selling pressure. For context, the S&P 500’s RSI is higher at 42.1, highlighting the significant differences in market performance.
Investors with a bullish outlook may view the RSI of 28.3 as a potential sign that recent selling is losing steam. This could encourage them to seek entry points for purchasing shares.
Examining the one-year performance chart, XLV’s lowest point over the past 52 weeks is $124.60, with a peak reaching $159.64. As of the last trade, shares are priced at $146.74, representing a decline of approximately 0.7% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
