In the case of GraniteShares 2x Long LCID Daily, the RSI reading has hit 28.2 — by comparison, the RSI reading for the S&P 500 is currently 69.5. A bullish investor could look at LCDL's 28.2 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), LCDL's low point in its 52 week range is $1.10 per share, with $41.67 as the 52 week high point — that compares with a last trade of $1.10. GraniteShares 2x Long LCID Daily shares are currently trading off about 12.2% on the day.
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