MGK

Vanguard Mega Cap Growth Getting Very Oversold

In trading on Friday, shares of the Vanguard Mega Cap Growth ETF (Symbol: MGK) entered into oversold territory, changing hands as low as $267.39 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 Mega Cap Growth, the RSI reading has hit 29.7 — by comparison, the RSI reading for the S&P 500 is currently 32.0. A bullish investor could look at MGK's 29.7 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), MGK's low point in its 52 week range is $199.81 per share, with $291.40 as the 52 week high point — that compares with a last trade of $267.08. Vanguard Mega Cap Growth shares are currently trading down about 2.3% on the day.

Vanguard Mega Cap Growth 1 Year Performance Chart

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

Also see:
• Top Ten Hedge Funds Holding MBTF
• Institutional Holders of CFCO
• Funds Holding SHEL

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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