iShares Russell 2000 Growth ETF Shows Oversold Signs Amid Market Decline
On Thursday, shares of the iShares Russell 2000 Growth ETF (Symbol: IWO) fell into oversold territory, trading as low as $244.65 per share. The Relative Strength Index (RSI), a key technical analysis tool that measures market momentum on a scale from zero to 100, indicated this shift. A stock is deemed oversold when its RSI dips below 30.
For the iShares Russell 2000 Growth ETF, the current RSI reading stands at 28.8, which contrasts with the S&P 500’s RSI of 32.0. A bullish investor might interpret this 28.8 figure as a signal that the recent downturn could soon reach an exhaustion point, presenting potential buying opportunities.
When examining the ETF’s one-year performance, IWO’s low is recorded at $242.7401, while its high sits at $317.62. As of the last trade, IWO was priced at $243.02, reflecting a decline of approximately 5.9% on the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
