First Trust Industrials ETF Hits Oversold Mark: What It Means for Investors

On Friday, shares of the First Trust Industrials/Producer Durables AlphaDEX Fund ETF (Symbol: FXR) dipped into oversold territory, trading as low as $75.1223 each. This situation is identified by tracking the Relative Strength Index (RSI), a tool used in technical analysis to gauge market momentum on a scale from zero to 100. Generally, a stock is deemed oversold when its RSI falls below 30.

For FXR, the RSI has recently registered at 29.97. In contrast, the S&P 500 boasts a current RSI of 45.7. A bullish investor may interpret FXR’s 29.97 reading as a signal that the recent intense selling may be nearing its end, which could prompt them to seek buying opportunities.

Examining its one-year performance, FXR’s 52-week low sits at $62.5192 per share, while the high reached $83.71. As of its last trade, FXR is priced at $75.40, reflecting a daily decline of about 1.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.