First Trust BICK Index Fund (BICK) Enters Oversold Territory
In the case of First Trust BICK Index Fund, the RSI reading has hit 28.8 — by comparison, the RSI reading for the S&P 500 is currently 49.9.
A bullish investor could look at BICK's 28.8 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), BICK's low point in its 52 week range is $19.86 per share, with $26.08 as the 52 week high point — that compares with a last trade of $20.38. First Trust BICK Index Fund shares are currently trading off about 1.4% on the day.