In trading on Thursday, shares of the iShares MSCI Frontier 100 ETF (FM) entered into oversold territory, changing hands as low as $28.82 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 Frontier 100, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 53.8.
START SLIDESHOW:
Find out what 9 other oversold stocks you need to know about »
