First Trust Large Cap Core AlphaDEX Fund Getting Very Oversold

In trading on Friday, shares of the First Trust Large Cap Core AlphaDEX Fund ETF (Symbol: FEX) entered into oversold territory, changing hands as low as $102.18 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 First Trust Large Cap Core AlphaDEX Fund, the RSI reading has hit 28.7 — by comparison, the RSI reading for the S&P 500 is currently 33.2. A bullish investor could look at FEX's 28.7 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), FEX's low point in its 52 week range is $93.39 per share, with $113.17 as the 52 week high point — that compares with a last trade of $102.49. First Trust Large Cap Core AlphaDEX Fund shares are currently trading off about 0.5% on the day.

---

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

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

Also see:

• Stocks with Recent Secondaries That Hedge Funds Are Buying
• OCEL Insider Buying
• Institutional Holders of PRAA

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