Shares Of CCXE Now Oversold

In trading on Wednesday, shares of the WisdomTree Commodity Country Equity Fund ETF ( CCXE) entered into oversold territory, changing hands as low as $28.651 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 Commodity Country Equity Fund, the RSI reading has hit 29.3 — by comparison, the RSI reading for the S&P 500 is currently 53.4.

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A bullish investor could look at CCXE's 29.3 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), CCXE's low point in its 52 week range is $27.11 per share, with $33.35 as the 52 week high point — that compares with a last trade of $28.65. WisdomTree Commodity Country Equity Fund shares are currently trading down about 3.2% on the day.

WisdomTree Commodity Country Equity Fund 1 Year Performance Chart
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