iShares Core MSCI EAFE ETF Hits Oversold Levels: What Investors Should Know
On Wednesday, the iShares Core MSCI EAFE ETF (Symbol: IEFA) saw its shares dip into oversold territory, trading as low as $71.635 per share. Oversold territory is defined by the Relative Strength Index (RSI), a technical analysis tool measuring momentum from 0 to 100. An RSI reading below 30 indicates oversold conditions.
Currently, IEFA’s RSI stands at 29.1, in stark contrast to the S&P 500’s RSI reading of 64.7. For bullish investors, this lower reading could suggest that the recent strong sell-off is losing steam, presenting potential buying opportunities.
Examining the ETF’s one-year performance reveals a low of $65.725 and a high of $78.825, while the last recorded trade was $71.91. At present, shares of iShares Core MSCI EAFE are trading down approximately 0.8% for the day.
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