QTEC Crosses Critical Technical Indicator
May 23, 2012 at 11:00 AM EDT
In trading on Wednesday, shares of the First Trust NASDAQ-100-Technology Sector IndexFund ETF (QTEC) entered into oversold territory, changing hands as low as $24.55 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.