In the case of Goldman Sachs Dynamic California Municipal Income, the RSI reading has hit 29.6 — by comparison, the RSI reading for the S&P 500 is currently 58.6. A bullish investor could look at GCAL's 29.6 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), GCAL's low point in its 52 week range is $49.64 per share, with $51.72 as the 52 week high point — that compares with a last trade of $50.31. Goldman Sachs Dynamic California Municipal Income shares are currently trading off about 0.4% on the day.

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Further GCAL Research:

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