Shares of the iShares MSCI India ETF (Symbol: INDA) dropped into oversold territory on Monday, reaching a low of $54.45. An important measure in trading, the Relative Strength Index (RSI), indicates momentum on a scale from 0 to 100. A reading below 30 suggests that a stock is considered oversold.
Currently, INDA holds an RSI reading of 29.5, while the S&P 500 stands at 44.5. This suggests investors may view the recent decline in INDA’s value as a potential opportunity; a bullish investor might consider this signal as a chance to buy in, believing that the heavy selling is starting to wane.
In terms of performance, the iShares MSCI India ETF has a one-year trading range that shows a low of $44.03 and a high of $59.49, with the last trade on Monday recorded at $54.51. At present, shares of INDA are down about 0.6% for the day.
Explore 9 other oversold stocks worth watching »
Additional Resources:
- Top Cheap Stocks
- PBSM Videos
- Institutional Holders of PIRS
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
