EWAS Crosses Critical Technical Indicator
In the case of iShares MSCI Australia Small Cap Index Fund, the RSI reading has hit 29.3 — by comparison, the RSI reading for the S&P 500 is currently 46.1.
A bullish investor could look at EWAS's 29.3 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), EWAS's low point in its 52 week range is $21.04 per share, with $26.49 as the 52 week high point — that compares with a last trade of $23.37. iShares MSCI Australia Small Cap Index Fund shares are currently trading off about 2.1% on the day.