In the case of MicroSectors US Big Banks -3X Inverse Leveraged ETN, the RSI reading has hit 28.8 — by comparison, the RSI reading for the S&P 500 is currently 52.7. A bullish investor could look at BNKD's 28.8 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), BNKD's low point in its 52 week range is $30.98 per share, with $112.528 as the 52 week high point — that compares with a last trade of $32.20. MicroSectors US Big Banks -3X Inverse Leveraged ETN shares are currently trading down about 3.5% on the day.
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Further BNKD Research:
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