Shares of iShares International Equity Factor ETF Show Oversold Signals
On Friday, the iShares International Equity Factor ETF (Symbol: INTF) saw its shares drop into oversold status, trading as low as $28.25 each. Oversold conditions are identified using the Relative Strength Index (RSI), a tool that gauges a stock’s momentum on a scale from zero to 100. When the RSI falls below 30, it indicates that a stock may be oversold.
For iShares International Equity Factor, the RSI reading reached 29.5. In contrast, the S&P 500 currently has an RSI of 39.7. This divergence might attract bullish investors, who could view the 29.5 RSI as a signal that the recent significant selling may be losing its momentum, potentially creating buying opportunities.
Over the past year, INTF’s shares have fluctuated significantly, hitting a low of $27.145 and a peak of $31.83. Currently, the shares are trading at $28.48, marking a decline of about 0.6% for the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
