In trading on Wednesday, shares of the Consumer Staples Select Sector SPDR Fund ETF (AMEX: XLP) entered into oversold territory, changing hands as low as $39.83 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 trading on Wednesday, shares of the Consumer Staples Select Sector SPDR Fund ETF (AMEX: XLP) entered into oversold territory, changing hands as low as $39.83 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.
Share this Article
Recommended