In trading on Monday, shares of the Avantis U.S. Small Cap Value ETF (Symbol: AVUV) entered into oversold territory, changing hands as low as $95.03 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 Avantis U.S. Small Cap Value, the RSI reading has hit 29.0 — by comparison, the RSI reading for the S&P 500 is currently 39.2. A bullish investor could look at AVUV's 29.0 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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