iShares U.S. Small-Cap ETF Enters Oversold Territory Amid Recent Decline
During trading on Thursday, shares of the iShares U.S. Small-Cap Equity Factor ETF (Symbol: SMLF) dropped into oversold territory, reaching a low of $58.9981 per share. The oversold condition is identified using the Relative Strength Index (RSI), a popular technical analysis tool that measures momentum on a scale from zero to 100. A stock is deemed oversold when its RSI falls below 30.
For the iShares U.S. Small-Cap Equity Factor ETF, the RSI reading currently stands at 29.2. In comparison, the S&P 500’s RSI is slightly higher at 30.7. This low RSI reading may suggest to bullish investors that the recent intense selling might be nearing its end, prompting them to look for potential buying opportunities.
Examining the ETF’s performance over the past year, SMLF’s lowest price in its 52-week range was $58.48 per share, while the high point reached $74.69. The last recorded trade was at $59.11, indicating that shares of the iShares U.S. Small-Cap Equity Factor are currently down approximately 7.1% for the day.
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Additional resources:
- GSUM Options Chain
- Funds Holding BSTI
- Funds Holding SCJ
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
