KXI Crowded With Sellers

In trading on Thursday, shares of the iShares Global Consumer Staples ETF (KXI) entered into oversold territory, changing hands as low as $91.41 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 Consumer Staples, the RSI reading has hit 20.6 — by comparison, the RSI reading for the S&P 500 is currently 59.2.

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

A bullish investor could look at KXI's 20.6 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), KXI's low point in its 52 week range is $86.09 per share, with $101.62 as the 52 week high point — that compares with a last trade of $91.46. iShares Global Consumer Staples shares are currently trading down about 3% on the day.

iShares Global Consumer Staples 1 Year Performance Chart

More from Stocks

Stocks End Close to Home

Stocks End Close to Home

General Electric CFO to TheStreet: In 'Wait and See' Mode When It Comes to Trade

General Electric CFO to TheStreet: In 'Wait and See' Mode When It Comes to Trade

Bonds vs. Stocks: What's the Difference?

Bonds vs. Stocks: What's the Difference?

Jim Cramer on Bank of America, Tariffs and the Goldman Sachs CEO Change

Jim Cramer on Bank of America, Tariffs and the Goldman Sachs CEO Change

Nvidia Is Taking Over the Autonomous Driving Industry -- Here's How

Nvidia Is Taking Over the Autonomous Driving Industry -- Here's How