WisdomTree Core Laddered Municipal Fund Getting Very Oversold
In trading on Tuesday, shares of the WisdomTree Core Laddered Municipal Fund ETF (Symbol: WTMU) entered into oversold territory, changing hands as low as $25.87 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 WisdomTree Core Laddered Municipal Fund, the RSI reading has hit 28.4 — by comparison, the RSI reading for the S&P 500 is currently 41.8. A bullish investor could look at WTMU's 28.4 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), WTMU's low point in its 52 week range is $24.16 per share, with $26.30 as the 52 week high point — that compares with a last trade of $25.87. WisdomTree Core Laddered Municipal Fund shares are currently trading down about 0.1% on the day.
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