IShares MSCI Emerging Markets Energy Capped (EMEY) Enters Oversold Territory
In the case of iShares MSCI Emerging Markets Energy Capped, the RSI reading has hit 28.3 — by comparison, the RSI reading for the S&P 500 is currently 49.9.
A bullish investor could look at EMEY's 28.3 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), EMEY's low point in its 52 week range is $33.78 per share, with $49.92 as the 52 week high point — that compares with a last trade of $34.33. iShares MSCI Emerging Markets Energy Capped shares are currently trading off about 1.8% on the day.