FNDF Crosses Critical Technical Indicator

In trading on Wednesday, shares of the FNDF ETF (Symbol: FNDF) entered into oversold territory, changing hands as low as $29.32 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 FNDF, the RSI reading has hit 29.98 — by comparison, the RSI reading for the S&P 500 is currently 37.9. A bullish investor could look at FNDF's 29.98 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), FNDF's low point in its 52 week range is $24.81 per share, with $32.8541 as the 52 week high point — that compares with a last trade of $29.42. FNDF shares are currently trading off about 3.5% on the day.

FNDF 1 Year Performance Chart

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

Also see:
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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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