Lazard Listed Infrastructure Getting Very Oversold
In trading on Wednesday, shares of the Lazard Listed Infrastructure ETF (Symbol: GLIX) entered into oversold territory, changing hands as low as $26.47 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 Lazard Listed Infrastructure, the RSI reading has hit 29.4 — by comparison, the RSI reading for the S&P 500 is currently 53.8. A bullish investor could look at GLIX's 29.4 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), GLIX's low point in its 52 week range is $24.7399 per share, with $29.23 as the 52 week high point — that compares with a last trade of $26.53. Lazard Listed Infrastructure shares are currently trading down about 0.5% on the day.
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Further GLIX Research:
