iShares Exponential Technologies ETF Shows Oversold Signal Amid Price Drop

In trading on Monday, shares of the iShares Exponential Technologies ETF (Symbol: XT) fell into oversold territory, reaching a low of $56.41 per share. The Relative Strength Index (RSI), a key technical analysis indicator measuring market momentum on a scale from zero to 100, defines oversold conditions as an RSI reading below 30.

For iShares Exponential Technologies, the RSI currently sits at 29.8. In comparison, the S&P 500 has a higher RSI of 34.4. This lower reading for XT may indicate that the recent wave of selling is beginning to exhaust itself. As such, bullish investors could start scouting for potential buying opportunities.

Analyzing its one-year performance, XT has a 52-week low of $53 per share and a 52-week high of $64.26. Its recent trading value stands at $56.86, reflecting a decline of approximately 1.9% 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.