Fidelity Latin America Fund is Oversold Now and Due for a Snap Back Rally

Fidelity Latin America Fund (FLATX, last change: -2.63%)

The Fidelity Latin America Fund (FLATX, last change: -2.63%) has dropped more than 19% since its February peak and is now oversold. An oversold condition occurs when the value of an investment drops too far too fast, and it is usually followed by a rebound, which is also referred to as the snap back rally. The significance of FLATX rallying from this oversold point would be that a new support level can be established, which can lead to the consolidation of the price.

Buy/sell signals for Fidelity funds are available at FidelitySignal.com

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