EFG becomes very oversold | Nasdaq

During Friday’s trading, shares of ETF EFG (Symbol: EFG) entered oversold territory, changing hands as low as $78.39 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 EFG, the RSI reading reached 29.96 โ€“ in comparison, the RSI reading for the S&P 500 is currently 36.9. A bullish investor might take EFG’s 29.96 reading as a sign that the recent selloff is running out and is beginning to look for entry point opportunities on the buy side.

Looking at a one-year performance chart (below), EFG’s low point in its 52-week range is $77.51 per share, with $114.1899 as its 52-week high โ€“ compare with a final trade of $78.56. EFG shares are currently trading around 1.2% on the day.

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