Shares of IOO Now Oversold

In trading on Thursday, shares of the iShares Global 100 ETF (IOO) entered into oversold territory, changing hands as low as $75.97 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of iShares Global 100, the RSI reading has hit 29.4 — by comparison, the RSI reading for the S&P 500 is currently 32.2.

START SLIDESHOW:
Find out what 9 other oversold stocks you need to know about »

A bullish investor could look at IOO's 29.4 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), IOO's low point in its 52 week range is $68.74 per share, with $81.45 as the 52 week high point — that compares with a last trade of $75.98. iShares Global 100 shares are currently trading off about 0.9% on the day.

iShares Global 100 1 Year Performance Chart

More from Stocks

Musk's The Boring Company Just Got a Bit Less Boring

Musk's The Boring Company Just Got a Bit Less Boring

Tyson Foods CEO: We Aren't Done Making Deals

Tyson Foods CEO: We Aren't Done Making Deals

Dow Drops Over 100 Points on Trade War Worries

Dow Drops Over 100 Points on Trade War Worries

Warren Buffett at Age 87 Still Does One Amazing Thing That Drives Success

Warren Buffett at Age 87 Still Does One Amazing Thing That Drives Success

Amazon, Nvidia, Micron and 10 Other Stocks to Own in June

Amazon, Nvidia, Micron and 10 Other Stocks to Own in June