ETF Channel Staff - Friday, October 27, 4:18 PMIn trading on Friday, shares of the iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) entered into oversold territory, changing hands as low as $85.10 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 U.S. Broker-Dealers & Securities Exchanges, the RSI reading has hit 29.5 — by comparison, the RSI reading for the S&P 500 is currently 27.1.
A bullish investor could look at IAI'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), IAI's low point in its 52 week range is $84.9717 per share, with $105.625 as the 52 week high point — that compares with a last trade of $85.16. iShares U.S. Broker-Dealers & Securities Exchanges shares are currently trading off about 2.2% on the day.
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
Find the right mix of model portfolios today at PortfolioChannel.com
|
Free ETF Newsletter
|
Free IAI Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |
Buy (3.08 out of 4) 0th percentile
(ranked lower than approx. 100% of all etfs covered)
Based on data provided by Zacks Investment Research via Quandl.com |
Gold ETFs Silver ETFs Oil ETFs ETF Screens ETF Database ETF Guide |