Shares of FVD Now Oversold

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In trading on Friday, shares of the FVD ETF (Symbol: FVD) entered into oversold territory, changing hands as low as $37.19 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 FVD, the RSI reading has hit 28.7 — by comparison, the RSI reading for the S&P 500 is currently 29.8.

A bullish investor could look at FVD’s 28.7 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), FVD’s low point in its 52 week range is $36.7445 per share, with $43.4277 as the 52 week high point — that compares with a last trade of $36.98. FVD shares are currently trading off about 1.5% on the day.



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



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