DFAT shares are now oversold

During Monday’s trading, shares of ETF DFAT (Symbol: DFAT) entered oversold territory, changing hands as low as $42.98 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 oversold if the RSI reading falls below 30.

In the case of DFAT, the RSI reading reached 24.2 – in comparison, the RSI reading for the S&P 500 is currently 35.2. A bullish investor might take the DFAT reading of 24.2 as a sign that the recent selloff is running out of steam and starting to look for entry point opportunities on the buy side.

Looking at a one-year performance chart (below), DFAT’s low point in its 52-week range is $38.5896 per share, with $50 as its 52-week high – compare with a last transaction of $43.26. DFAT shares are currently trading around 3.8% higher on the day.

Find out what 9 other oversold stocks you need to know »

Also see:

• Institutional holders of PRAX
• Institutional HF holders
• HAIN videos

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


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button