DBEU Crosses Critical Technical Indicator
ETF Channel Staff - Monday, September 20, 11:00 AMIn trading on Monday, shares of the DBEU ETF (DBEU) entered into oversold territory, changing hands as low as $33.93 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 DBEU, the RSI reading has hit 29.0 — by comparison, the RSI reading for the S&P 500 is currently 34.3.
A bullish investor could look at DBEU's 29.0 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), DBEU's low point in its 52 week range is $25.79 per share, with $35.67 as the 52 week high point — that compares with a last trade of $34.08. DBEU shares are currently trading down about 1.9% on the day.
Free Report: Top 7%+ Dividends (paid monthly)