DWAS Crowded With SellersBy Dividend Channel Staff, Thursday, April 18, 4:08 PM ETIn trading on Thursday, shares of the Invesco Dorsey Wright SmallCap Momentum ETF (NASDAQ:DWAS) entered into oversold territory, changing hands as low as $81.7701 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 Invesco Dorsey Wright SmallCap Momentum, the RSI reading has hit 29.8 — by comparison, the RSI reading for the S&P 500 is currently 34.0. A bullish investor could look at DWAS's 29.8 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), DWAS's low point in its 52 week range is $68.4439 per share, with $91.98 as the 52 week high point — that compares with a last trade of $81.98. Invesco Dorsey Wright SmallCap Momentum shares are currently trading down about 0.7% on the day.
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