SPDR Dow Jones International Real Estate (RWX) Enters Oversold Territory

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In trading on Thursday, shares of the SPDR Dow Jones International Real Estate ETF (Symbol: RWX) entered into oversold territory, changing hands as low as $36.98 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 International Real Estate, the RSI reading has hit 26.9 - by comparison, the RSI reading for the S&P 500 is currently 53.6. A bullish investor could look at RWX's 26.9 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), RWX's low point in its 52 week range is $36.98 per share, with $42.535 as the 52 week high point - that compares with a last trade of $36.99. SPDR Dow Jones International Real Estate shares are currently trading down about 1.5% on the day.

SPDR Dow Jones International Real Estate 1 Year Performance Chart

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , ETFs
Referenced Symbols: RWX

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