FHLC Enters Oversold Territory

In trading on Friday, shares of the FHLC ETF (Symbol: FHLC) entered into oversold territory, changing hands as low as $65.49 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 FHLC, the RSI reading has hit 28.2 — by comparison, the RSI reading for the S&P 500 is currently 43.8. A bullish investor could look at FHLC's 28.2 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), FHLC's low point in its 52 week range is $57.32 per share, with $70.01 as the 52 week high point — that compares with a last trade of $65.61. FHLC shares are currently trading down about 1.9% on the day.

FHLC 1 Year Performance Chart

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

Also see:
• DIV market cap history
• GIII Videos
• TSRE Split History

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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