iShares Core Growth Allocation Getting Very Oversold

In trading on Friday, shares of the iShares Core Growth Allocation ETF (Symbol: AOR) entered into oversold territory, changing hands as low as $56.96 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 iShares Core Growth Allocation, the RSI reading has hit 27.6 — by comparison, the RSI reading for the S&P 500 is currently 39.7. A bullish investor could look at AOR's 27.6 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), AOR's low point in its 52 week range is $52.07 per share, with $59.77 as the 52 week high point — that compares with a last trade of $57.38. iShares Core Growth Allocation shares are currently trading off about 1% on the day.

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

Also see:

• Historical Stock Price
• Institutional Holders of SDAC
• AHP Insider Buying

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