FTSE Argentina 20 Getting Very Oversold Tuesday, February 26, 3:57 PM ET, by Market News Video Staff In trading on Tuesday, shares of the FTSE Argentina 20 ETF (ARGT) entered into oversold ...
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 Apco Oil and Gas International, Inc. (NASDAQ:APAGF) entered into oversold territory, hitting an RSI reading of 28.7, after changing hands as low as $9.305 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 50.0. A bullish investor could look at APAGF's 28.7 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 APAGF shares:
According to the ETF Finder at ETF Channel, APAGF makes up 1.02% of the FTSE Argentina 20 ETF (AMEX:ARGT) which is trading lower by about 1.5% on the day Wednesday.
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