Business

iShares US Aerospace & Defense (ITA) enters oversold territory


IDuring Monday’s trading, shares of the iShares US Aerospace & Defense ETF (Symbol: ITA) entered oversold territory, changing hands as low as $98.74 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered oversold if the RSI reading falls below 30.

In the case of iShares US Aerospace & Defense, the RSI reading reached 27.5 – in comparison, the RSI reading for the S&P 500 is currently 34.2. A bullish investor might take the 27.5 reading from ITA as a sign that the recent selloff is running out of steam and starting to look for entry point opportunities on the buy side.

Looking at a one-year performance chart (below), the ITA’s low point in its 52-week range is $95.44 per share, with $113.67 as its 52-week high – at compare with a last transaction of $98.84. iShares US Aerospace & Defense shares are currently trading around 4.2% lower on the day.


Free report: Top 7%+ Dividends (paid monthly)

Find out what 9 other oversold stocks you need to know »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


nasdaq

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.

Eleon

"Writer. Coffee practitioner. Twitter specialist. Food trailblazer. Subtly charming analyst. Troublemaker. Unable to type with boxing gloves on."
Back to top button