In the case of iShares U.S. Medical Devices, the RSI reading has hit 29.3 — by comparison, the RSI reading for the S&P 500 is currently 41.9. A bullish investor could look at IHI's 29.3 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), IHI's low point in its 52 week range is $52.9047 per share, with $64.71 as the 52 week high point — that compares with a last trade of $56.71. iShares U.S. Medical Devices shares are currently trading off about 2.4% on the day.
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YTD Return NWTG Videos
EWCZ Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
