On Tuesday, the iShares MSCI Mexico ETF (Symbol: EWW) reached oversold levels, trading as low as $48.80 per share. Oversold territory is identified using the Relative Strength Index (RSI), which helps gauge a stock’s momentum on a 0 to 100 scale. A stock is deemed oversold when the RSI drops below 30.
Currently, EWW’s RSI reading stands at 26.2, significantly lower than the S&P 500’s reading of 63.5. For bullish investors, this low RSI may suggest that the extensive selling pressure is waning, opening doors for potential buying opportunities.
Examining EWW’s one-year performance, its 52-week low is $48.65 per share, while the 52-week high reached $71.12. At last check, shares were priced at $48.99, marking about a 3% decline for the day.
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Also see:
- Preferred Stock Channel
- XT shares outstanding history
- VJET Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
