Shares of DSCO Now Oversold
In trading on Friday, shares of the DSCO ETF (Symbol: DSCO) entered into oversold territory, changing hands as low as $24.40 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 DSCO, the RSI reading has hit 28.0 — by comparison, the RSI reading for the S&P 500 is currently 54.9. A bullish investor could look at DSCO's 28.0 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), DSCO's low point in its 52 week range is $24.34 per share, with $25.34 as the 52 week high point — that compares with a last trade of $24.40. DSCO shares are currently trading down about 0.2% on the day.
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Further DSCO Research:
