Hartford Multifactor Developed Markets ETF Shows Signs of Oversold Conditions
In trading on Monday, shares of the Hartford Multifactor Developed Markets (ex-US) ETF (Symbol: RODM) dipped into oversold territory, reaching a low of $28.1608 per share. This situation is identified using the Relative Strength Index (RSI), a tool for analyzing stock momentum that ranges from zero to 100. According to this indicator, a stock is deemed oversold when its RSI drops below 30.
For the Hartford Multifactor Developed Markets ETF, the current RSI reading stands at a low 24.0. This is significantly below the S&P 500’s RSI of 42.9, indicating that RODM has experienced heavier selling pressure. A bullish investor might view this 24.0 reading as a potential signal that selling is slowing down, suggesting that it could be a time to consider buying opportunities.
Over the past year, RODM’s share price has seen a low of $26.40, with the 52-week high reaching $30.8499. As of the latest trade, the ETF is priced at $28.21, reflecting a decline of approximately 2.1% today.
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Also see:
- QTM shares outstanding history
- GFOF Options Chain
- ETFs Holding PDCE
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
