FNCL Crowded With Sellers

In trading on Friday, shares of the FNCL ETF (Symbol: FNCL) entered into oversold territory, changing hands as low as $44.35 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 FNCL, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 30.0. A bullish investor could look at FNCL's 29.6 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), FNCL's low point in its 52 week range is $42.42 per share, with $52.66 as the 52 week high point — that compares with a last trade of $44.36. FNCL shares are currently trading down about 1.1% on the day.

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