Shares Of ITIP Now Oversold

Tickers in this article: ITIP
In trading on Tuesday, shares of the iShares International Inflation-Linked Bond Fund ETF entered into oversold territory, changing hands as low as $49.45 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 International Inflation-Linked Bond Fund, the RSI reading has hit 28.5 — by comparison, the RSI reading for the S&P 500 is currently 71.2.

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A bullish investor could look at ITIP's 28.5 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), ITIP's low point in its 52 week range is $44.72 per share, with $52.11 as the 52 week high point — that compares with a last trade of $49.47. iShares International Inflation-Linked Bond Fund shares are currently trading down about 0.7% on the day.

iShares International Inflation-Linked Bond Fund 1 Year Performance Chart