WisdomTree U.S. MidCap Dividend Fund ETF Hits Oversold Levels
Investors Eye Possible Buying Opportunities Following Recent Dip
During Monday’s trading session, the WisdomTree U.S. MidCap Dividend Fund ETF (Symbol: DON) experienced a notable drop, reaching a low of $50.61 per share as it entered oversold territory. Oversold conditions are determined using the Relative Strength Index (RSI), which gauges a stock’s momentum on a scale of zero to 100. A stock is deemed oversold when the RSI reading falls below 30.
Specifically, the WisdomTree U.S. MidCap Dividend Fund’s RSI reading is currently at 28.8. In contrast, the S&P 500’s RSI stands at 42.9, indicating more stability in larger stocks compared to this mid-cap ETF.
For bullish investors, DON’s RSI of 28.8 might suggest that the recent heavy selling is slowing down. This could present opportunities for investors to consider entering the stock at a more attractive price.
Examining the fund’s performance over the past year, DON’s lowest point in its 52-week range is $43.98 per share, while the highest stands at $55.92. Currently, the last trade price for the fund is $50.75, reflecting a slight decline of about 0.6% for the day.
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Additional Resources:
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
