Markets
IEV

iShares Europe Enters Oversold Territory

In trading on Tuesday, shares of the iShares Europe ETF (Symbol: IEV) entered into oversold territory, changing hands as low as $44.6279 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 Europe, the RSI reading has hit 29.0 - by comparison, the RSI reading for the S&P 500 is currently 61.9. A bullish investor could look at IEV's 29.0 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), IEV's low point in its 52 week range is $43.99 per share, with $50.81 as the 52 week high point - that compares with a last trade of $44.94. iShares Europe shares are currently trading off about 3.2% on the day.

iShares Europe 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.


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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