ETF Channel Staff - Wednesday, April 17, 11:09 AMIn trading on Wednesday, shares of the Vanguard Real Estate ETF (VNQ) entered into oversold territory, changing hands as low as $78.80 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 Vanguard Real Estate, the RSI reading has hit 29.7 — by comparison, the RSI reading for the S&P 500 is currently 36.8.
A bullish investor could look at VNQ's 29.7 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), VNQ's low point in its 52 week range is $70.6114 per share, with $90.09 as the 52 week high point — that compares with a last trade of $78.90. Vanguard Real Estate shares are currently trading down about 0.4% on the day.
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Buy (3.00 out of 4) 0th percentile
(ranked lower than approx. 100% of all etfs covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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