On Tuesday, trading revealed that shares of the iShares International Select Dividend ETF (Symbol: IDV) dipped into oversold territory, reaching a low of $27.8951 per share. This assessment of oversold status comes from the Relative Strength Index, or RSI, which gauges stock momentum on a scale from zero to 100. A stock is typically deemed oversold when the RSI falls below 30.
Currently, IDV has an RSI reading of 29.2, which starkly contrasts with the S&P 500’s RSI of 67.9. For bullish investors, this 29.2 figure might suggest that the recent wave of selling is approaching its limit, presenting potential buying opportunities.
Examining IDV’s performance over the past year, the ETF’s lowest point in its 52-week range has been $25.22 per share, while its peak reached $30.64. The last recorded trade was at $27.93, indicating that IDV shares have fallen approximately 1.7% on the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
