Low Volume ETFs with Solid Returns Monday, September 13, 10:44 AM ET, by Market News Video Staff The Claymore U.S. Capital Markets Bond ETF (UBD) has returned about 11.25% year-to-date with dividends ...
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Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures 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 Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM) entered into oversold territory, hitting an RSI reading of 30.0, after changing hands as low as $50.68 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 43.4. A bullish investor could look at SQM's 30.0 RSI reading today 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. The chart below shows the one year performance of SQM shares:
According to the ETF Finder at ETF Channel, SQM makes up 4.99% of the Guggenheim Frontier Markets ETF (AMEX:FRN) which is trading lower by about 0.8% on the day Wednesday.
SQM operates in the Agricultural Chemicals sector, among companies like China Green Agriculture Inc (NYSE:CGA) which is off about 5% today and has a current RSI reading of 30.8. Below is a three month price history chart comparing the stock performance of SQM, versus CGA.
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