WisdomTree Investments, Inc. has been on a bit of a cold streak lately, but there might be light at the end of the tunnel for this overlooked stock. And for technical investors there is some hope when looking at WETF given that, according to its RSI reading of 24.38, it is now in oversold territory.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Other Factors
Yet, WETF’s low RSI value isn’t the only reason to have some optimism over a coming turnaround, as there has been plenty of positive earnings estimate revision activity as of late. This is especially true when investors take a deep dive into some of these estimate revision stats and recent changes to WisdomTree Investments’ earnings consensus.
Over the past two months, investors have seen 5 earnings estimate revisions move higher, compared with none lower, at least when looking at the key current year time frame. And the consensus estimate for WETF has also been on an upward trend over the past 60 days, as estimates have risen by 4% over the last two months.
If this wasn’t enough, WisdomTree Investments also has a Zacks Rank #2 (Buy) which puts it into rare company among its peers. So, given all of these factors, investors may want to consider getting in on this stock now (or holding on), as there are some favorable trends that could bubble up for this stock before long. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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WisdomTree Investments Enters Oversold Territory
WisdomTree Investments, Inc. has been on a bit of a cold streak lately, but there might be light at the end of the tunnel for this overlooked stock. And for technical investors there is some hope when looking at WETF given that, according to its RSI reading of 24.38, it is now in oversold territory.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Other Factors
Yet, WETF’s low RSI value isn’t the only reason to have some optimism over a coming turnaround, as there has been plenty of positive earnings estimate revision activity as of late. This is especially true when investors take a deep dive into some of these estimate revision stats and recent changes to WisdomTree Investments’ earnings consensus.
Over the past two months, investors have seen 5 earnings estimate revisions move higher, compared with none lower, at least when looking at the key current year time frame. And the consensus estimate for WETF has also been on an upward trend over the past 60 days, as estimates have risen by 4% over the last two months.
If this wasn’t enough, WisdomTree Investments also has a Zacks Rank #2 (Buy) which puts it into rare company among its peers. So, given all of these factors, investors may want to consider getting in on this stock now (or holding on), as there are some favorable trends that could bubble up for this stock before long. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>