EWU enters oversold territory | Nasdaq

During Friday’s trading, shares of ETF EWU (Symbol: EWU) entered oversold territory, changing hands as low as $26.34 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 oversold if the RSI reading falls below 30.

In the case of the EWU, the RSI reading reached 22.2 โ€“ in comparison, the RSI reading for the S&P 500 is currently 29.8. A bullish investor might take EWU’s 22.2 reading as a sign that the recent selloff is running out of steam and starting to look for entry point opportunities on the buy side.

Looking at a one-year performance chart (below), EWU’s low point in its 52-week range is $26.135 per share, with $35.087 as its 52-week high โ€“ compare with last trade of $26.25. EWU shares are currently trading around 4.7% higher on the day.

1 Year EWU Performance Table

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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