Quantcast

Shares of EWW Now Oversold


Shutterstock photo

In trading on Monday, shares of the iShares MSCI Mexico ETF (Symbol: EWW) entered into oversold territory, changing hands as low as $47.575 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 MSCI Mexico, the RSI reading has hit 28.1 - by comparison, the RSI reading for the S&P 500 is currently 49.3. A bullish investor could look at EWW's 28.1 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), EWW's low point in its 52 week range is $47.575 per share, with $57.82 as the 52 week high point - that compares with a last trade of $47.63. iShares MSCI Mexico shares are currently trading down about 2.3% on the day.

iShares MSCI Mexico 1 Year Performance Chart

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

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 Symbols: EWW



More from BNK Invest

Subscribe






BNK Invest
Contributor:

BNK Invest

Market News, Investing










Research Brokers before you trade

Want to trade FX?