iShares MSCI India ETF Enters Oversold Territory Amid Market Movements
On Friday, shares of the iShares MSCI India ETF (Symbol: INDA) traded as low as $47.65, entering oversold territory. We define this status using the Relative Strength Index (RSI), a key technical analysis tool that measures momentum on a scale from zero to 100. A stock is deemed oversold when its RSI falls below 30.
Currently, the RSI for iShares MSCI India stands at 28.3, significantly lower than the S&P 500’s RSI of 42.4. This may suggest that the recent wave of heavy selling could be nearing its conclusion. For bullish investors, this might present an opportunity for potential entry points in the market.
Examining the one-year performance chart of INDA, the ETF hit a low of $47.65 within its 52-week range, while the 52-week high is recorded at $59.49. The last traded price was $47.92, indicating that shares are currently down approximately 1.3% for the day.
Free report: Top 8%+ Dividends (paid monthly)
Discover nine other oversold stocks worth consideration »
Also see:
- AFFX Split History
- KYN Dividend History
- INFN Stock Predictions
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
