In trading on Thursday, shares of the iShares Exponential Technologies ETF (XT) entered into oversold territory, changing hands as low as $24.8401 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 Exponential Technologies, the RSI reading has hit 28.8 — by comparison, the RSI reading for the S&P 500 is currently 33.4. A bullish investor could look at XT's 28.8 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), XT's low point in its 52 week range is $21.03 per share, with $26.56 as the 52 week high point — that compares with a last trade of $24.85. iShares Exponential Technologies shares are currently trading down about 0.4% on the day.
HOST // Robert Powell
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