In trading on Wednesday, shares of the iShares Core MSCI Emerging Markets ETF (Symbol: IEMG) entered into oversold territory, changing hands as low as $64.67 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 MSCI Emerging Markets, the RSI reading has hit 29.4 — by comparison, the RSI reading for the S&P 500 is currently 41.6.
A bullish investor could look at IEMG’s 29.4 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), IEMG’s low point in its 52 week range is $47.29 per share, with $69.465 as the 52 week high point — that compares with a last trade of $64.78. iShares Core MSCI Emerging Markets shares are currently trading down about 0.7% on the day.
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Also see:
• KBNT Options Chain
• Institutional Holders of CHRW
• Institutional Holders of RENO
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
