In the case of Direxion Daily Semiconductors Bear 3x Shares, the RSI reading has hit 29.9 — by comparison, the RSI reading for the S&P 500 is currently 59.1. A bullish investor could look at SOXS's 29.9 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), SOXS's low point in its 52 week range is $3.77 per share, with $53.43 as the 52 week high point — that compares with a last trade of $3.79. Direxion Daily Semiconductors Bear 3x Shares shares are currently trading off about 6% on the day.
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