iShares MSCI Global Energy Producers (FILL) Enters Oversold Territory

In trading on Thursday, shares of the iShares MSCI Global Energy Producers ETF (FILL) entered into oversold territory, changing hands as low as $21.006 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 MSCI Global Energy Producers, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 44.7.

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A bullish investor could look at FILL's 29.9 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), FILL's low point in its 52 week range is $19.76 per share, with $30.01 as the 52 week high point — that compares with a last trade of $21.05. iShares MSCI Global Energy Producers shares are currently trading off about 1.5% on the day.

iShares MSCI Global Energy Producers 1 Year Performance Chart

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