iShares MSCI EAFE Growth ETF Experiences Big Inflow Thursday, May 18, 10:51 AM ET, by Market News Video Staff Symbols mentioned in this story: EFG, WIX, GRAB, FUTU Exchange traded funds (ETFs) trade just ...
FUTU Makes Bullish Cross Above Critical Moving Average Thursday, July 13, 12:15 PM ET, by Market News Video Staff In trading on Thursday, shares of Futu Holdings Limited - American Depositary Shares (FUTU) crossed ...
Futu Holdings Reaches Analyst Target Price Friday, July 14, 8:24 AM ET, by Market News Video Staff In recent trading, shares of Futu Holdings Ltd (FUTU) have crossed above the average analyst ...
Noteworthy ETF Outflows: EFA, FUTU Thursday, August 3, 10:47 AM ET, by Market News Video Staff Symbols mentioned in this story: EFA, FUTU Exchange traded funds (ETFs) trade just like stocks, ...
Futu Holdings Reaches Analyst Target Price Monday, October 9, 8:01 AM ET, by Market News Video Staff In recent trading, shares of Futu Holdings Ltd (FUTU) have crossed above the average analyst ...
Oversold Conditions For Futu Holdings Limited - American Depositary Shares (FUTU)
By Market News Video Staff, Thursday, August 18, 12:24 PM ET
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 Thursday, shares of Futu Holdings Limited - American Depositary Shares (NASDAQ:FUTU) entered into oversold territory, hitting an RSI reading of 29.4, after changing hands as low as $38.46 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 72.1. A bullish investor could look at FUTU's 29.4 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 FUTU shares:
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