On Wednesday, the iShares Cohen & Steers REIT ETF (Symbol: ICF) saw its share price drop to as low as $60, indicating it has entered oversold territory. This status is determined using the Relative Strength Index (RSI), a tool that measures a stock’s momentum on a scale from 0 to 100. An RSI reading below 30 suggests that a stock may be oversold.
The iShares Cohen & Steers REIT ETF currently holds an RSI of 27.6. For context, the S&P 500 index has a higher RSI of 49.5 at this time. Investors who are bullish on ICF may interpret this low reading as an indicator that the selling pressure is beginning to recede, potentially signaling a good time to buy.
Examining ICF’s one-year performance, the ETF’s lowest price over the last 52 weeks was $52.39, while its highest was $67.57. As of the latest trade, shares changed hands at $59.91, reflecting a decrease of around 3.4% for 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.
