Recent trading shows shares of iShares MSCI Global Min Vol Factor ETF (Symbol: ACWV) descending into oversold status, with prices hitting $110.59.
The concept of “oversold” comes from the Relative Strength Index (RSI), a technical analysis tool measuring momentum on a scale of zero to 100. When a stock’s RSI falls below 30, it’s considered oversold. Currently, ACWV’s RSI stands at 29.8, while the S&P 500 has a much healthier reading of 61.2.
For bullish investors, ACWV’s low RSI could indicate that the stock has faced intense selling, possibly nearing a bottom. This scenario might present buying opportunities as the selling pressure diminishes.
Taking a look at ACWV’s annual performance, its 52-week low is $97.53, and its high reaches $115.65—contrast this with the latest trading price of $110.68. As of now, iShares MSCI Global Min Vol Factor shares are down approximately 1.8% for the day.
Free Report: Top 8%+ Dividends (Paid Monthly)
Discover 9 additional oversold stocks worth considering »
Further Reading:
High-Yield Canadian Real Estate Stocks
ENPC Options Chain
Top Ten Hedge Funds Holding ALBT
The views expressed in this article are those of the author and do not necessarily represent those of Nasdaq, Inc.
