Schwab Emerging Markets Equity ETF Shows Signs of Being Oversold
On Monday, shares of the Schwab Emerging Markets Equity ETF (Symbol: SCHE) slipped into oversold territory, trading as low as $25.6024 per share. Oversold conditions are identified using the Relative Strength Index (RSI), a technical tool measuring market momentum on a scale from zero to 100. An asset is deemed oversold when its RSI falls below 30.
Currently, SCHE has an RSI reading of 28.8, compared to the S&P 500’s reading of 36.9. This lower level could attract bullish investors who may interpret this as a sign that the recent heavy selling may be winding down, thus creating potential buying opportunities.
Examining SCHE’s one-year performance reveals that its lowest point in the past 52 weeks was $23.33 per share, while the highest was $30.245. As of the latest trade, the stock is priced at $25.75, reflecting a decline of about 0.9% 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.
