Vanguard Russell 1000 Growth (VONG) Enters Oversold Territory
In trading on Friday, shares of the Vanguard Russell 1000 Growth ETF (Symbol: VONG) entered into oversold territory, changing hands as low as $95.98 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of Vanguard Russell 1000 Growth, the RSI reading has hit 29.5 — by comparison, the RSI reading for the S&P 500 is currently 33.2.
A bullish investor could look at VONG’s 29.5 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), VONG’s low point in its 52 week range is $81.08 per share, with $107.965 as the 52 week high point — that compares with a last trade of $96.51. Vanguard Russell 1000 Growth shares are currently trading off about 1.1% on the day.
Free Report: Top 8%+ Dividends (paid monthly)
Find out what 9 other oversold stocks you need to know about »
Also see:
ETFs Holding ACRE
CINF Average Annual Return
DENN shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
