The Real Estate SPDR ETF Shows Signs of Overselling
Shares of The Real Estate Select Sector SPDR Fund ETF (Symbol: XLRE) dropped into oversold territory during Wednesday’s trading session, with prices slipping as low as $41.085 per share. The term “oversold” is determined by the Relative Strength Index (RSI), a technical indicator that gauges momentum on a scale of zero to 100. A stock falls into this category when the RSI is below 30.
For XLRE, the RSI currently stands at 28.2, while the S&P 500 holds at a healthier 49.5. This reading might suggest that the recent selling pressure is slowing down, hinting at potential buying opportunities for optimistic investors.
Examining the one-year performance chart below, XLRE’s shares have a 52-week low of $35.5699 and a high of $45.5799. As of the latest trade, the ETF’s price is $40.94, reflecting a decrease of about 3.1% for the day.
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Also see:
- TDIV Average Annual Return
- QTT Stock Predictions
- SNN Shares Outstanding History
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
