Investor Insight: AAXJ Shows Signs of Recovery Potential
On Monday, shares of the iShares MSCI All Country Asia ex Japan ETF (Symbol: AAXJ) fell to $69.34, entering what analysts describe as oversold territory. This classification is determined by the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale of zero to 100. An RSI reading below 30 signifies that a stock is oversold.
For AAXJ, the RSI has dipped to 29.3, suggesting significant selling pressure. In contrast, the S&P 500’s RSI stands at 36.9, highlighting the strength disparity between the two indexes.
For investors looking for opportunities, a reading of 29.3 could indicate that the recent sell-off is exhausting itself. This may encourage bullish observers to explore entry points for buying shares of AAXJ.
The one-year performance chart indicates that AAXJ’s lowest price over the last 52 weeks was $61.39, while the highest reached $82.25. Currently, shares are trading at $69.59, reflecting a decline of 1.1% on the day.
Explore 9 other oversold stocks worth monitoring »
Related Topics:
- Oversold Metals Stocks
- ROKU Stock Predictions
- HPG Videos
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
