SGOL Crowded With Sellers

In trading on Friday, shares of the ETFS Physical Swiss Gold Shares ETF (SGOL) entered into oversold territory, changing hands as low as $146.33 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 ETFS Physical Swiss Gold Shares, the RSI reading has hit 24.6 — by comparison, the RSI reading for the S&P 500 is currently 68.3.

START SLIDESHOW:
Find out what 9 other oversold stocks you need to know about »

A bullish investor could look at SGOL's 24.6 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.

Looking at a chart of one year performance (below), SGOL's low point in its 52 week range is $146.33 per share, with $177.44 as the 52 week high point — that compares with a last trade of $146.79. ETFS Physical Swiss Gold Shares shares are currently trading down about 4.7% on the day.

ETFS Physical Swiss Gold Shares 1 Year Performance Chart

null

More from Stocks

Starbucks Stock Performance in 2018: -12%

Starbucks Stock Performance in 2018: -12%

Dow Logs Eighth Straight Drop as Stocks Slump

Dow Logs Eighth Straight Drop as Stocks Slump

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Burger King Issues Apology After Massive World Cup Promotional Fail

Burger King Issues Apology After Massive World Cup Promotional Fail

The Winners and Losers in Thursday's Market

The Winners and Losers in Thursday's Market