iShares U.S. Financial Services ETF Hits Oversold Level at $75.76

In trading on Monday, the iShares U.S. Financial Services ETF (Symbol: IYG) entered an oversold position, reaching a low of $75.76 per share. The term “oversold” is determined using the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from 0 to 100. Typically, a stock is marked as oversold when its RSI falls below 30.

Currently, IYG has an RSI reading of 27.8. To provide context, the S&P 500’s RSI stands at 31.0. Investors who adopt a bullish view may interpret IYG’s 27.8 figure as an indication that the recent selling pressure is nearing its conclusion, therefore signaling potential buy opportunities.

Examining IYG’s one-year performance, we see that the ETF’s lowest point in its 52-week range was $62.13 per share, while the highest was $84.91. In contrast, the most recent trading price was $76.01, reflecting a decline of about 2% for the day.

Discover additional oversold stocks you should be aware of »

Also consider:

• Semiconductors Dividend Stocks
• FNSR Market Cap History
• SCMF Videos

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