On Tuesday, shares of the iShares Core MSCI Europe ETF (Symbol: IEUR) fell into oversold territory, trading as low as $55.64 each. This situation arises when a stock experiences significant selling pressure. Traders often use the Relative Strength Index (RSI) to gauge this; an RSI below 30 indicates oversold conditions.
As of now, the RSI for iShares Core MSCI Europe stands at 27.9. In contrast, the S&P 500 index has an RSI of 67.9, showing a significant difference in market momentum.
For bullish investors, IEUR’s low RSI could signal that the strong sell-off may be nearing its end, presenting potential buying opportunities as they anticipate a reversal.
Taking a look at its one-year performance (as depicted below), IEUR’s 52-week low is $49.62, while its high is $61.81. Currently, shares are trading at $55.66, reflecting a decline of approximately 1.9% 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.
