SPDR Portfolio Developed World ex-US Getting Very Oversold

In trading on Monday, shares of the SPDR Portfolio Developed World ex-US ETF (Symbol: SPDW) entered into oversold territory, changing hands as low as $33.87 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 SPDR Portfolio Developed World ex-US, the RSI reading has hit 25.4 — by comparison, the RSI reading for the S&P 500 is currently 42.9.

A bullish investor could look at SPDW’s 25.4 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), SPDW’s low point in its 52 week range is $32.63 per share, with $38 as the 52 week high point — that compares with a last trade of $33.92. SPDR Portfolio Developed World ex-US shares are currently trading down about 1.7% on the day.

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Also see:

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• Funds Holding SDGR
• TSBK Options Chain

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.