RING Crowded With Sellers
In the case of iShares MSCI Global Gold Miners Fund, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 72.3.
A bullish investor could look at RING'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), RING's low point in its 52 week range is $11.6201 per share, with $23.34 as the 52 week high point — that compares with a last trade of $11.65. iShares MSCI Global Gold Miners Fund shares are currently trading off about 4.8% on the day.