In trading on Tuesday, shares of the Pacer Data & Infrastructure Real Estate ETF (Symbol: SRVR) entered into oversold territory, changing hands as low as $30.65 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 Pacer Data & Infrastructure Real Estate, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 54.3.
A bullish investor could look at SRVR’s 29.6 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), SRVR’s low point in its 52 week range is $28.445 per share, with $35.81 as the 52 week high point — that compares with a last trade of $30.86. Pacer Data & Infrastructure Real Estate shares are currently trading off about 0.6% on the day.
