IEV Crowded With SellersBy Dividend Channel Staff, Tuesday, September 26, 12:18 PM ETIn trading on Tuesday, shares of the iShares Europe ETF (NYSE:IEV) entered into oversold territory, changing hands as low as $47.54 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 Europe, the RSI reading has hit 28.6 — by comparison, the RSI reading for the S&P 500 is currently 31.7. A bullish investor could look at IEV's 28.6 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), IEV's low point in its 52 week range is $36.88 per share, with $52.37 as the 52 week high point — that compares with a last trade of $47.63. iShares Europe shares are currently trading off about 0.9% on the day.
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