Shares of DEW Now Oversold

In trading on Friday, shares of the WisdomTree Global High Dividend Fund ETF (Symbol: DEW) entered into oversold territory, changing hands as low as $69.73 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of WisdomTree Global High Dividend Fund, the RSI reading has hit 29.1 — by comparison, the RSI reading for the S&P 500 is currently 54.9. A bullish investor could look at DEW's 29.1 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.