SLVP Crowded With Sellers
In the case of iShares MSCI Global Silver Miners Fund, the RSI reading has hit 28.4 — by comparison, the RSI reading for the S&P 500 is currently 72.3.
A bullish investor could look at SLVP's 28.4 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), SLVP's low point in its 52 week range is $13.18 per share, with $25.00 as the 52 week high point — that compares with a last trade of $13.18. iShares MSCI Global Silver Miners Fund shares are currently trading off about 3% on the day.