IShares MSCI Emerging Markets Eastern Europe Index Fund (ESR) Enters Oversold Territory
In the case of iShares MSCI Emerging Markets Eastern Europe Index Fund, the RSI reading has hit 29.8 — by comparison, the RSI reading for the S&P 500 is currently 56.1.
A bullish investor could look at ESR's 29.8 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), ESR's low point in its 52 week range is $21.41 per share, with $27.84 as the 52 week high point — that compares with a last trade of $23.22. iShares MSCI Emerging Markets Eastern Europe Index Fund shares are currently trading off about 0.9% on the day.