NASDAQ
Date: Jan 31, 2020

In trading on Friday, shares of the iShares MSCI Taiwan ETF (Symbol: EWT) entered into oversold territory, changing hands as low as $38.145 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 to be oversold if the RSI reading falls below 30.

In the case of iShares MSCI Taiwan, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 51.3. A bullish investor could look at EWT's 29.9 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), EWT's low point in its 52 week range is $32.165 per share, with $41.83 as the 52 week high point — that compares with a last trade of $38.15. iShares MSCI Taiwan shares are currently trading off about 1.4% on the day.    [FULL  STORY]