IWB Crowded With Sellers | Nasdaq

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IWB Crowded With Sellers | Nasdaq

In trading on Friday, shares of the iShares Russell 1000 ETF (Symbol: IWB) entered into oversold territory, changing hands as low as $242.63 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 Russell 1000, the RSI reading has hit 28.2 — by comparison, the RSI reading for the S&P 500 is currently 28.8.

A bullish investor could look at IWB’s 28.2 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), IWB’s low point in its 52 week range is $209.08 per share, with $267.13 as the 52 week high point — that compares with a last trade of $243.32. iShares Russell 1000 shares are currently trading down about 1.8% on the day.

iShares Russell 1000 1 Year Performance Chart

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