Markets
FXH

FXH Crowded With Sellers

In trading on Monday, shares of the First Trust Health Care AlphaDEX Fund ETF (Symbol: FXH) entered into oversold territory, changing hands as low as $58.024 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 First Trust Health Care AlphaDEX Fund, the RSI reading has hit 26.3 - by comparison, the RSI reading for the S&P 500 is currently 36.3. A bullish investor could look at FXH's 26.3 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), FXH's low point in its 52 week range is $44.41 per share, with $70.72 as the 52 week high point - that compares with a last trade of $57.99. First Trust Health Care AlphaDEX Fund shares are currently trading off about 3.5% on the day.

First Trust Health Care AlphaDEX Fund 1 Year Performance Chart

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

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


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

In This Story

FXH

Other Topics

ETFs

Latest Markets Videos