Analysts Monitor RSI as Shares Approach Key Buying Opportunities
On Tuesday, shares of the iShares MSCI Emerging Markets ex China ETF (Symbol: EMXC) fell into oversold territory, trading as low as $57.93 per share. In technical analysis, we define oversold conditions by using the Relative Strength Index (RSI), which measures market momentum on a scale from zero to 100. An asset is deemed oversold if its RSI reading drops below 30.
Currently, the RSI for iShares MSCI Emerging Markets ex China stands at 29.1, indicating heightened selling pressure. For context, the S&P 500’s RSI is 67.9, reflecting a stark difference in momentum.
Bullish investors may interpret the 29.1 RSI reading as an indication that the recent heavy selling is nearing its conclusion, potentially creating opportunities to buy at lower prices.
Analyzing EMXC’s performance over the past year, its 52-week range has seen a low of $50.38 per share and a high of $63.17, with the latest trade at $57.93. Presently, shares of iShares MSCI Emerging Markets ex China are trading flat for the day.
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Additional Resources:
- Technical Analysis Channel
- RCM Options Chain
- MITL Market Cap History
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