ALD Crowded With Sellers

In trading on Friday, shares of the WisdomTree Asia Local Debt Fund ETF (ALD) entered into oversold territory, changing hands as low as $47.2919 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 Asia Local Debt Fund, the RSI reading has hit 26.2 — by comparison, the RSI reading for the S&P 500 is currently 77.0.

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

A bullish investor could look at ALD's 26.2 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), ALD's low point in its 52 week range is $43.83 per share, with $49.95 as the 52 week high point — that compares with a last trade of $47.29. WisdomTree Asia Local Debt Fund shares are currently trading off about 0.8% on the day.

WisdomTree Asia Local Debt Fund 1 Year Performance Chart

More from Stocks

18 Auto Stocks Trump Just Ran Over With His Tariff Plan

18 Auto Stocks Trump Just Ran Over With His Tariff Plan

Tesla's Battery Tech Is Unrivaled

Tesla's Battery Tech Is Unrivaled

Future of Fast Food: Wendy's CEO Dishes

Future of Fast Food: Wendy's CEO Dishes

6 Tech Stocks Hurting The Most From China Trade War Fears

6 Tech Stocks Hurting The Most From China Trade War Fears

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists