IJT Stock Hits Oversold Levels, Raising Buy Interest
On Monday, shares of the iShares S&P Small-Cap 600 Growth ETF (Symbol: IJT) dropped into oversold territory, trading as low as $134.03 per share. This oversold status is determined using the Relative Strength Index (RSI), a tool that gauges momentum, ranging from zero to 100. An RSI reading below 30 signifies that the stock is oversold.
The RSI for iShares S&P Small-Cap 600 Growth stands at 29.0, compared to the S&P 500’s current RSI of 39.2. For investors with a bullish outlook, this 29.0 reading could suggest that the recent wave of selling is getting tired, opening up opportunities for potential buying.
Examining the one-year performance chart (below), IJT’s lowest point in its 52-week range was $118.72, while the highest reached $152.05. With the last trade price at $134.68, the iShares S&P Small-Cap 600 Growth shares are currently down about 1.7% for the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
