PSR - Real estate ETFs reach overbought levels according to RSI
Last week’s top-performing sector in the financial market was real estate, which finished +2.00%. According to the relative strength index, moving into this week and there are some real estate exchange traded funds and traditional funds that are reaching the overbought territory.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 (GQRE)iShares U.S. Real Estate ETF(IYR)Real Estate Select Sector SPDR ETF (XLRE)Invesco S&P 500 Equal Weight Real Estate ETF (EWRE)Invesco Active U.S. Real Estate (PSR)First Trust FTSE EPRA/NAREIT Global Real Estate Index ETF (FFR)SPDR DJ Wilshire Global Real Estate ETF (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
For further details see:
Real estate ETFs reach overbought levels according to RSI