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.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.