ENZL Crosses Critical Technical Indicator
In the case of iShares MSCI New Zealand Capped Investable Market Index Fund, the RSI reading has hit 29.1 — by comparison, the RSI reading for the S&P 500 is currently 39.7.
A bullish investor could look at ENZL's 29.1 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), ENZL's low point in its 52 week range is $28.27 per share, with $39.66 as the 52 week high point — that compares with a last trade of $33.44. iShares MSCI New Zealand Capped Investable Market Index Fund shares are currently trading off about 0.9% on the day.