IRV Crosses Critical Technical Indicator
In the case of SPDR S&P International Materials Sector, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 44.2.
A bullish investor could look at IRV's 29.2 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), IRV's low point in its 52 week range is $20.39 per share, with $25.75 as the 52 week high point — that compares with a last trade of $21.10. SPDR S&P International Materials Sector shares are currently trading off about 4.4% on the day.