Fidelity MSCI Communication Services ETF Hits Oversold Status
On Thursday, shares of the Fidelity MSCI Communication Services Index ETF (Symbol: FCOM) fell into oversold territory, with prices dropping as low as $54.08 per share. Oversold territory is defined by the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100. An asset is considered oversold when its RSI reading is below 30.
For the Fidelity MSCI Communication Services Index, the RSI has reached 29.4. In comparison, the S&P 500 currently sports an RSI of 30.7. A bullish investor might view FCOM’s 29.4 reading as an indication that recent selling pressure is waning, creating potential buying opportunities.
A year-long performance chart reveals that FCOM’s 52-week low was $46.3717 per share, while the 52-week high stood at $64.25. The latest trade of FCOM was around $54.00, reflecting a daily decline of approximately 4.5%.
Free report: Top 8%+ Dividends (paid monthly)
find out what 9 other oversold stocks you need to know about »
also see:
- BOLD Historical Stock Prices
- ARGU market cap history
- Institutional Holders of RNAZ
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
