In the case of Direxion Daily Dow Jones Internet Bear 3x Shares, the RSI reading has hit 28.3 — by comparison, the RSI reading for the S&P 500 is currently 68.5. A bullish investor could look at WEBS's 28.3 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), WEBS's low point in its 52 week range is $13.92 per share, with $33.25 as the 52 week high point — that compares with a last trade of $13.96. Direxion Daily Dow Jones Internet Bear 3x Shares shares are currently trading down about 3.8% on the day.
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Further WEBS Research:
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