On Thursday, iShares S&P Small-Cap 600 Value ETF, with the ticker symbol IJS, entered oversold territory as shares traded as low as $100.08 each. Oversold conditions are identified using the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. A stock is designated as oversold when its RSI falls below 30.

In the case of the iShares S&P Small-Cap 600 Value ETF, the RSI reading has reached 29.0, compared to the S&P 500’s RSI of 36.6.

For bullish investors, the 29.0 RSI reading may indicate that recent selling pressure is waning, presenting potential entry points for buying.

Examining the one-year performance of IJS, the fund has a 52-week low of $93.89 per share and a 52-week high of $119.28, with its last trade recorded at $101.19. Currently, shares of iShares S&P Small-Cap 600 Value are trading down about 0.8% 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.