Oversold Conditions For A&W Revenue Royalities Income Fund (AW-UN)
In trading on Wednesday, shares of A&W Revenue Royalities Income Fund (AW-UN.TO"> AW-UN.TO) entered into oversold territory, hitting an RSI reading of 28.6, after changing hands as low as $21.08 per share. By comparison, the current RSI reading of the S&P/TSX Composite Index is 34.0. A bullish investor could look at AW.UN's 28.6 RSI reading today 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. The chart below shows the one year performance of AW.UN shares:
Looking at the chart above, AW.UN's low point in its 52 week range is $19.25 per share, with $23.065 as the 52 week high point — that compares with a last trade of $21.10.