WisdomTree U.S. LargeCap Dividend Fund ETF Hits Oversold Levels
In trading activity on Thursday, shares of the WisdomTree U.S. LargeCap Dividend Fund ETF (Symbol: DLN) fell into oversold territory, trading as low as $76.94 each. Oversold territory, defined by a Relative Strength Index (RSI) reading below 30, is a common indicator of momentum in technical analysis.
For the WisdomTree U.S. LargeCap Dividend Fund, the RSI now stands at 29.7. In comparison, the S&P 500 index has a lower RSI reading of 28.4. This lower RSI value may signal to bullish investors that the recent trend of heavy selling is nearing its conclusion, potentially creating opportunities to enter the market on the buy side.
Examining DLN’s one-year performance chart, the ETF’s 52-week low is at $68.49 per share, while the high is $82.325. The most recent trade price was $77.04, indicating that shares are currently trading about 0.8% lower for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
