Real estate ETFs reach overbought levels according to RSI
Apr. 26, 2021 1:35 PM ETFlexShares Trust - FlexShares Global Quality Real Estate Index Fund (GQRE), XLRE, EWRE, PSR, FFR, RWOGQRE, IYR, XLRE, EWRE, PSR, FFR, RWOBy: Jason Capul, SA News Editor3 Comments
- Last week’s top-performing sector in the financial market was real estate, which finished +2.00%.
- Moving into this week and there are some real estate exchange traded funds and traditional funds that are reaching the overbought territory of the relative strength index.
- For technical-based traders, this will be significant to note as these levels on the daily charts don’t occur that frequently. Below are a handful of real estate exchange traded funds that have crossed the RSI overbought level of 70.
- FlexShares Global Quality Real Estate Index Fund (NYSEARCA:GQRE)
- iShares U.S. Real Estate ETF(NYSEARCA:IYR)
- Real Estate Select Sector SPDR ETF (NYSEARCA:XLRE)
- Invesco S&P 500 Equal Weight Real Estate ETF (NYSEARCA:EWRE)
- Invesco Active U.S. Real Estate (NYSEARCA:PSR)
- First Trust FTSE EPRA/NAREIT Global Real Estate Index ETF (NYSEARCA:FFR)
- SPDR DJ Wilshire Global Real Estate ETF (NYSEARCA:RWO)
- Market participants will need to decide if this technical factor is worth reacting on or, instead, should they let it blow over.
- A little after the midpoint of trading on Monday and the real estate sector as a whole is +0.36%, right in the middle of the sector performers.
- Two of the three major U.S. stock averages remain in the green in early afternoon trading as investors brace for a busy corporate earnings week.