In trading on Tuesday, shares of the iShares MSCI Global Min Vol Factor ETF (Symbol: ACWV) entered into oversold territory, changing hands as low as $96.591 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 Global Min Vol Factor, the RSI reading has hit 29.4 — by comparison, the RSI reading for the S&P 500 is currently 59.2. A bullish investor could look at ACWV's 29.4 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), ACWV's low point in its 52 week range is $86.42 per share, with $100.41 as the 52 week high point — that compares with a last trade of $96.70. iShares MSCI Global Min Vol Factor shares are currently trading off about 0.4% on the day.
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