In the case of Defiance Daily Target 2x Long SOFI, the RSI reading has hit 29.98 — by comparison, the RSI reading for the S&P 500 is currently 46.9. A bullish investor could look at SOFX's 29.98 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), SOFX's low point in its 52 week range is $5.23 per share, with $55.479 as the 52 week high point — that compares with a last trade of $9.02. Defiance Daily Target 2x Long SOFI shares are currently trading down about 2.7% on the day.
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