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| SPDR Dow Jones International Real Estate Getting Very OversoldBy Dividend Channel Staff, Tuesday, September 26, 11:20 AM ET
In trading on Tuesday, shares of the SPDR Dow Jones International Real Estate ETF (NYSE:RWX) entered into oversold territory, changing hands as low as $23.8547 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 28.4 — by comparison, the RSI reading for the S&P 500 is currently 31.7. A bullish investor could look at RWX's 28.4 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 $22.90 per share, with $29.49 as the 52 week high point — that compares with a last trade of $23.85. SPDR Dow Jones International Real Estate shares are currently trading off about 1% on the day.
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