Shares of IJH Now Oversold

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In trading on Monday, shares of the iShares Core S&P Mid-Cap ETF (Symbol: IJH) entered into oversold territory, changing hands as low as $136.28 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 S&P Mid-Cap, the RSI reading has hit 29.98 - by comparison, the RSI reading for the S&P 500 is currently 35.1. A bullish investor could look at IJH's 29.98 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), IJH's low point in its 52 week range is $116.97 per share, with $144.95 as the 52 week high point - that compares with a last trade of $136.44. iShares Core S&P Mid-Cap shares are currently trading off about 0.2% on the day.

iShares Core S&P Mid-Cap 1 Year Performance Chart

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

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



This article appears in: Investing ETFs
Referenced Stocks: IJH


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