ETF Channel Staff - Friday, September 23, 12:28 PMIn trading on Friday, shares of the DBEF ETF (DBEF) entered into oversold territory, changing hands as low as $33.90 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 DBEF, the RSI reading has hit 28.3 — by comparison, the RSI reading for the S&P 500 is currently 29.8.
A bullish investor could look at DBEF's 28.3 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), DBEF's low point in its 52 week range is $33.88 per share, with $40.0092 as the 52 week high point — that compares with a last trade of $33.91. DBEF shares are currently trading down about 1.7% on the day.
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