SPDR Russell/Nomura Small Cap Japan (JSC) Enters Oversold Territory
ETF Channel Staff - Friday, May 25, 1:30 PMIn trading on Friday, shares of the SPDR Russell/Nomura Small Cap Japan ETF (JSC) entered into oversold territory, changing hands as low as $39.17 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 SPDR Russell/Nomura Small Cap Japan, the RSI reading has hit 29.0 — by comparison, the RSI reading for the S&P 500 is currently 40.0.
A bullish investor could look at JSC's 29.0 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), JSC's low point in its 52 week range is $39.11 per share, with $46.11 as the 52 week high point — that compares with a last trade of $39.17. SPDR Russell/Nomura Small Cap Japan shares are currently trading down about 0.5% on the day.
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