Shares of PXMC Now Oversold

In trading on Wednesday, shares of the Fundamental Pure Mid Core Portfolio ETF ( PXMC) entered into oversold territory, changing hands as low as $33.43 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 Fundamental Pure Mid Core Portfolio, the RSI reading has hit 29.3 — by comparison, the RSI reading for the S&P 500 is currently 33.5.

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A bullish investor could look at PXMC'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), PXMC's low point in its 52 week range is $28.33 per share, with $35.75 as the 52 week high point — that compares with a last trade of $33.43. Fundamental Pure Mid Core Portfolio shares are currently trading off about 0.7% on the day.

Fundamental Pure Mid Core Portfolio 1 Year Performance Chart