Is the iShares Global REIT ETF Ready for a Comeback?
Tuesday’s trading saw shares of the iShares Global REIT ETF (Symbol: REET) dip into oversold territory, with prices dropping to $24.51 per share. This situation is determined by the Relative Strength Index (RSI), a tool that evaluates market momentum on a scale of 0 to 100. A stock is categorized as oversold if its RSI falls below 30.
Currently, the iShares Global REIT has an RSI of 29.7, while the S&P 500 boasts an RSI of 61.9. This suggests that REET may have experienced significant selling pressure lately. A bullish investor might interpret the 29.7 RSI as a potential signal that selling is slowing down and could present an opportunity to buy.
Looking at the ETF’s performance over the past year, REET has a 52-week low of $21.79 per share and a high of $27.24. The last recorded trade was at $24.67, reflecting a decline of about 1.5% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
