In trading on Wednesday, shares of the X-trackers International Real Estate ETF (Symbol: HAUZ) entered into oversold territory, changing hands as low as $22.58 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 X-trackers International Real Estate, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 67.8.
A bullish investor could look at HAUZ’s 29.6 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), HAUZ’s low point in its 52 week range is $21.921 per share, with $25.7287 as the 52 week high point — that compares with a last trade of $22.59. X-trackers International Real Estate shares are currently trading down about 1.5% on the day.
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Further HAUZ Research:
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