For this week, I bring you DRN (Direxion Shares ETF Real Estate Bull) as part of my Series of charts that show a clean RSI buy point. In the case of DRN the chart shows a clean bounce at a RSI reading of 30 on the 5m chart (noted by Red dots):
As the chart shows, you’ve been given 2 opportunities today (7/13/2011) to enter a long position when the RSI hit the 30 level (considered Oversold at this point). The stock is currently making a move to 78 off the 2nd RSI 30 bounce.
Trade ’em well.