Fidelity Low Volatility Factor Getting Very Oversold

In trading on Friday, shares of the Fidelity Low Volatility Factor ETF (Symbol: FDLO) entered into oversold territory, changing hands as low as $60.27 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 Fidelity Low Volatility Factor, the RSI reading has hit 28.2 — by comparison, the RSI reading for the S&P 500 is currently 39.7. A bullish investor could look at FDLO's 28.2 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), FDLO's low point in its 52 week range is $52.16 per share, with $63.1855 as the 52 week high point — that compares with a last trade of $60.71. Fidelity Low Volatility Factor shares are currently trading down about 0.7% on the day.

---

Free Report: Top 8%+ Dividends (paid monthly)

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

Also see:

• Average Annual Return
• VABK shares outstanding history
• Institutional Holders of IAI

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.