iShares Russell Mid-Cap ETF Enters Oversold Territory Amid Market Struggles

On Tuesday, shares of the iShares Russell Mid-Cap ETF (Symbol: IWR) dropped into oversold territory, with trading occurring as low as $85.90 per share. The Relative Strength Index (RSI), a popular technical analysis tool that measures momentum on a scale from zero to 100, defines oversold conditions as having an RSI below 30. Currently, IWR’s RSI reads 28.9, while the S&P 500’s RSI stands at 32.9.

This low RSI value might signal to bullish investors that the recent wave of selling could soon lose momentum, presenting potential buy opportunities. Given the climate of a bearish market, this could mark a critical turning point for investors looking to re-enter.

Analyzing the performance over the past year, IWR reached a low of $78.36 per share and a peak of $96.005, with the latest trade occurring at $86.34. At the time of this report, iShares Russell Mid-Cap shares are down approximately 2.3% on the day.

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Also See:

• HSII Dividend History
• EFA Historical Stock Prices
• Institutional Holders of UROV

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.