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.

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