WisdomTree Fund Hits Oversold Status Amid Market Movement
On Monday, shares of the WisdomTree International Hedged Quality Dividend Growth Fund ETF (Symbol: IHDG) reached oversold levels, trading as low as $43.01 per share. Oversold territory is identified using the Relative Strength Index (RSI), a technical analysis tool that measures price momentum on a scale from zero to 100. An asset is deemed oversold when the RSI falls below 30.
For the WisdomTree International Hedged Quality Dividend Growth Fund, the current RSI reading stands at 27.4. In comparison, the S&P 500’s RSI is at 34.4, indicating that IHDG may be experiencing more intense selling pressure.
A bullish investor might interpret the IHDG’s 27.4 RSI reading as a signal that recent selling may be nearing its end. This could present potential buying opportunities in the near future.
Examining the one-year performance chart below, IHDG has a 52-week low of $41.5356 per share and a high of $47.51. The most recent trade occurred at $43.26, reflecting a decline of approximately 1.5% on the day.
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See also:
- Preferred Crosses Below Par
- Top Ten Hedge Funds Holding IWP
- Funds Holding MLPO
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
