iShares MSCI Intl Quality Factor ETF Enters Oversold Zone: What Investors Should Know
Technical Indicator Signals Potential Buying Opportunity
In Friday’s trading, shares of the iShares MSCI Intl Quality Factor ETF (Symbol: IQLT) dropped to an oversold level, reaching as low as $36.68 each. An oversold stock is identified through the Relative Strength Index, or RSI, a common technical analysis tool that gauges momentum on a scale from zero to 100. A stock is deemed oversold when its RSI falls below 30.
For the iShares MSCI Intl Quality Factor, the RSI currently sits at 28.1. For context, the S&P 500 has a higher RSI reading of 39.7 at this time.
Investors who maintain a bullish outlook might interpret the 28.1 RSI as a signal that the recent selling wave may be waning. This could instigate consideration of potential entry points for buying the stock.
Reviewing the one-year performance chart below, IQLT’s 52-week low stands at $35.8639, while the high reaches $41.93. This positions its most recent trading price at $37.03, reflecting a decline of about 0.7% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
