Recent trading activity shows that shares of the iShares U.S. Industrials ETF (Symbol: IYJ) are now considered to be oversold, with prices dropping to $132.45 per share on Monday. This analysis is based on the Relative Strength Index (RSI), a tool used in technical analysis to gauge momentum, with values ranging from zero to 100. A stock is classified as oversold when its RSI dips below 30.
For the iShares U.S. Industrials, the current RSI is at 29.6, compared to an RSI of 39.2 for the S&P 500. This low reading may entice bullish investors to consider whether the recent sell-off has run its course, signaling potential buying opportunities.
Examining the one-year performance of IYJ, the ETF has hit a 52-week low of $110.9225 per share, with its peak reaching $144.20. Currently, with a last trade of $132.45, iShares U.S. Industrials shares are down approximately 1.9% for the day.
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The opinions expressed here are those of the author and do not necessarily reflect those of Nasdaq, Inc.
