Most Oversold ETFs
Thursday, May 6th, 2010
Hickey and Walters (Bespoke) submit:
Over at Bespoke Premium, we provide trend analysis of more than 200 key ETFs across asset classes on a daily basis. We took our list of key ETFs and found the ones that are currently trading the farthest below their 50-day moving averages.
As shown below, there are a number of ETFs that are now significantly oversold, and nearly all of them track foreign countries or regions. Thirty-five of the ETFs (non-leveraged) we track are more than 7% below their 50-day moving averages. Of these 35, 30 (highlighted in grey) track securities outside of the US. Spain (EWP) is the most oversold ETF at 17.68% below its 50-day. Italy (EWI) is close behind at -17.09%. The other ETFs trading more than 10% below their 50-days all track the Euro region.
