IShares MSCI Global Silver Miners Fund (SLVP) Enters Oversold Territory
In the case of iShares MSCI Global Silver Miners Fund, the RSI reading has hit 27.9 — by comparison, the RSI reading for the S&P 500 is currently 44.2.
A bullish investor could look at SLVP's 27.9 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 $11.84 per share, with $25.00 as the 52 week high point — that compares with a last trade of $11.84. iShares MSCI Global Silver Miners Fund shares are currently trading off about 6% on the day.