IQLT Crosses Critical Technical Indicator
ETF Channel Staff - Tuesday, September 26, 12:17 PMIn trading on Tuesday, shares of the iShares MSCI Intl Quality Factor ETF (IQLT) entered into oversold territory, changing hands as low as $33.51 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 MSCI Intl Quality Factor, the RSI reading has hit 29.7 — by comparison, the RSI reading for the S&P 500 is currently 31.7.
A bullish investor could look at IQLT's 29.7 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), IQLT's low point in its 52 week range is $27.02 per share, with $36.615 as the 52 week high point — that compares with a last trade of $33.58. iShares MSCI Intl Quality Factor shares are currently trading down about 0.8% on the day.
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