J.P. Morgan EM Local Currency Bond ETF Hits Oversold Levels

Market Analysis: EMLC’s RSI Suggests Buying Opportunity for Investors

In trading on Wednesday, shares of the J.P. Morgan EM Local Currency Bond ETF (Symbol: EMLC) dropped into oversold territory, changing hands as low as $24.16 per share. The term “oversold” applies when a stock’s Relative Strength Index (RSI), a popular technical analysis tool, registers below 30. This index measures momentum on a scale of 0 to 100.

Currently, EMLC has an RSI reading of 29.0, indicating a potential recovery signal. For reference, the S&P 500 boasts a much higher RSI of 64.7, reflecting strong market momentum compared to the ETF’s current struggles.

Bullish investors might interpret the 29.0 RSI reading as an indication that the recent heavy selling may be waning, prompting them to consider entry points for buying shares.

Reviewing the past year’s performance, EMLC’s 52-week low stands at $23.42, while the 52-week high reaches $25.585. The last trade price for EMLC was $24.17, representing a slight decline of about 0.6% on the day.

Explore 9 more oversold stocks worth your attention »

Related Insights:

• ICE Videos
• LYTS Shares Outstanding History
• SYK Next Dividend Date

The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Nasdaq, Inc.