In the case of iShares U.S. Technology, the RSI reading has hit 29.1 — by comparison, the RSI reading for the S&P 500 is currently 31.0. A bullish investor could look at IYW's 29.1 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), IYW's low point in its 52 week range is $124.32 per share, with $167.30 as the 52 week high point — that compares with a last trade of $143.64. iShares U.S. Technology shares are currently trading down about 3.6% on the day.
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