IEUR Crosses Critical Technical Indicator

In trading on Monday, shares of the iShares Core MSCI Europe ETF (Symbol: IEUR) entered into oversold territory, changing hands as low as $49.66 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 Europe, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 31.4. A bullish investor could look at IEUR's 29.9 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), IEUR's low point in its 52 week range is $38.54 per share, with $54.815 as the 52 week high point — that compares with a last trade of $49.72. iShares Core MSCI Europe shares are currently trading down about 1.2% on the day.

iShares Core MSCI Europe 1 Year Performance Chart

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

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