IWP

Shares of IWP Now Oversold

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In trading on Thursday, shares of the iShares Russell Mid-Cap Growth ETF (Symbol: IWP) entered into oversold territory, changing hands as low as $111.6311 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 Russell Mid-Cap Growth, the RSI reading has hit 29.97 - by comparison, the RSI reading for the S&P 500 is currently 28.8. A bullish investor could look at IWP's 29.97 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), IWP's low point in its 52 week range is $111.6311 per share, with $137.732 as the 52 week high point - that compares with a last trade of $112.05. iShares Russell Mid-Cap Growth shares are currently trading off about 0.5% on the day.

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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.


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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