In the case of Fidelity MSCI Communication Services Index, the RSI reading has hit 29.0 — by comparison, the RSI reading for the S&P 500 is currently 26.9. A bullish investor could look at FCOM's 29.0 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), FCOM's low point in its 52 week range is $46.3717 per share, with $64.25 as the 52 week high point — that compares with a last trade of $56.87. Fidelity MSCI Communication Services Index shares are currently trading down about 0.9% on the day.
Find out what 9 other oversold stocks you need to know about »
Also see:
Earnings History Top Ten Hedge Funds Holding VISI
XSW Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
