In the case of Direxion Daily GOOGL Bull 2X Shares, the RSI reading has hit 28.4 — by comparison, the RSI reading for the S&P 500 is currently 40.3. A bullish investor could look at GGLL's 28.4 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), GGLL's low point in its 52 week range is $23.60 per share, with $119.12 as the 52 week high point — that compares with a last trade of $86.83. Direxion Daily GOOGL Bull 2X Shares shares are currently trading off about 5% on the day.
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