2024-09-27 19:54:05

VPU Crosses Critical Technical Indicator

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Nasdaq
By Bnk Invest

In trading on Tuesday, shares of the VPU ETF (Symbol: VPU) entered into oversold territory, changing hands as low as $149.73 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 VPU, the RSI reading has hit 27.8 by comparison, the RSI reading for the S&P 500 is currently 25.3. A bullish investor could look at VPU's 27.8 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.

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Looking at a chart of one year performance (below), VPU's low point in its 52 week range is $138.60 per share, with $169.55 as the 52 week high point that compares with a last trade of $150.60. VPU shares are currently trading off about 1.8% on the day.

Find out what 9 other oversold stocks you need to know about

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

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