ETF Channel Staff – 6 hours, 34 minutes ago
In trading on Friday, shares of the SPDR Dow Jones Global Real Estate ETF (RWO) entered into oversold territory, changing hands as low as $40.7065 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. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of SPDR Dow Jones Global Real Estate, the RSI reading has hit 28.1 — by comparison, the RSI reading for the S&P 500 is currently 44.6.
A bullish investor could look at RWO’s 28.1 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), RWO’s low point in its 52 week range is $39.39 per share, with $48.17 as the 52 week high point — that compares with a last trade of $40.79. SPDR Dow Jones Global Real Estate shares are currently trading off about 1.5% on the day.
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