Shares of DEW Now Oversold

In trading on Wednesday, shares of the WisdomTree Global Equity Income Fund ETF (DEW) entered into oversold territory, changing hands as low as $47.7801 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 Global Equity Income Fund, the RSI reading has hit 29.5 — by comparison, the RSI reading for the S&P 500 is currently 35.8.

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

A bullish investor could look at DEW's 29.5 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), DEW's low point in its 52 week range is $43.25 per share, with $50.41 as the 52 week high point — that compares with a last trade of $47.78. WisdomTree Global Equity Income Fund shares are currently trading down about 0.4% on the day.

WisdomTree Global Equity Income Fund 1 Year Performance Chart

More from Stocks

The Stock Market Has Every Reason to See a Fresh Rally

The Stock Market Has Every Reason to See a Fresh Rally

3 Simple Tips on Investing From TheStreet's Jim Cramer

3 Simple Tips on Investing From TheStreet's Jim Cramer

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Tesla's Supercharger Network Is Booming -- Here's Why That's a Concern

Tesla's Supercharger Network Is Booming -- Here's Why That's a Concern

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly