JPME Crowded With Sellers
Technical Analysis Channel Staff - Thursday, April 18, 4:07 PM

In trading on Thursday, shares of the JPME ETF (JPME) entered into oversold territory, changing hands as low as $92.45 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 JPME, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 34.0.

A bullish investor could look at JPME'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), JPME's low point in its 52 week range is $79.21 per share, with $99.1599 as the 52 week high point — that compares with a last trade of $92.70. JPME shares are currently trading off about 0.3% on the day.

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