On Wednesday, shares of the iShares Global Healthcare ETF (Symbol: IXJ) reached an oversold level, trading as low as $93.12 per share. Oversold territory is identified using the Relative Strength Index (RSI), a momentum measurement tool that ranges from zero to 100. A stock is classified as oversold when its RSI falls below 30.
Currently, the RSI for iShares Global Healthcare is at 29.98, while the S&P 500 stands significantly higher at 62.6. This low RSI reading suggests that IXJ is experiencing substantial selling pressure, indicating that the selling might be winding down. Bullish investors could interpret this as a potential signal to seek buying opportunities.
Examining the one-year performance of IXJ, the ETF’s low point over the past 52 weeks was $79.58 per share, with a peak of $101.305. As of the latest trade, shares are priced at $93.13, reflecting a decline of about 0.4% for the day.
Free Report: Top 8%+ Dividends (paid monthly)
Discover nine other oversold stocks that may be of interest »
Also see:
- BGRY YTD Return
- SAL Split History
- MFRM Options Chain
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
