WisdomTree Global Natural Resources Fund Getting Very Oversold

In trading on Thursday, shares of the WisdomTree Global Natural Resources Fund ETF (GNAT) entered into oversold territory, changing hands as low as $21.59 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 Natural Resources Fund, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 51.3.

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

A bullish investor could look at GNAT's 29.9 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), GNAT's low point in its 52 week range is $19.81 per share, with $23.41 as the 52 week high point — that compares with a last trade of $21.65. WisdomTree Global Natural Resources Fund shares are currently trading down about 1.2% on the day.

WisdomTree Global Natural Resources Fund 1 Year Performance Chart

More from Stocks

Video: Here's What May Come Next for Theranos Founder and CEO Elizabeth Holmes

Video: Here's What May Come Next for Theranos Founder and CEO Elizabeth Holmes

Dow Leads Major Indices With Triple-Digit Rally

Dow Leads Major Indices With Triple-Digit Rally

Micron CEO: Internet of Things and Data Economy Will Drive Company's Growth

Micron CEO: Internet of Things and Data Economy Will Drive Company's Growth

Tesla Model 3 Delivery Time Falls, but Will It Help the Stock?

Tesla Model 3 Delivery Time Falls, but Will It Help the Stock?

Baidu Stock Plummets After COO Qi Lu Resignation

Baidu Stock Plummets After COO Qi Lu Resignation