TLTW Getting Very Oversold
ETF Channel Staff - Tuesday, April 16, 1:21 PMIn trading on Tuesday, shares of the TLTW ETF (TLTW) entered into oversold territory, changing hands as low as $24.74 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 TLTW, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 38.6.
A bullish investor could look at TLTW's 29.6 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), TLTW's low point in its 52 week range is $24.74 per share, with $34.33 as the 52 week high point — that compares with a last trade of $24.88. TLTW shares are currently trading down about 0.7% on the day.
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