In trading on Friday, shares of the SPDR S&P Semiconductor ETF (Symbol: XSD) entered into oversold territory, changing hands as low as $280.8301 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 SPDR S&P Semiconductor, the RSI reading has hit 29.3 — by comparison, the RSI reading for the S&P 500 is currently 37.1.
A bullish investor could look at XSD’s 29.3 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), XSD’s low point in its 52 week range is $156.775 per share, with $358.8625 as the 52 week high point — that compares with a last trade of $284.12. SPDR S&P Semiconductor shares are currently trading off about 2.1% on the day.
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Also see:
OMER Average Annual Return
BRQS YTD Return
Institutional Holders of FEFN
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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