In this insightful article, we explore the intriguing world of stock market contradictions, where certain stocks find themselves in an overbought zone but experience declining Relative Strength Index (RSI) trends. We delve into the significance of RSI and its role in understanding stock movements
On July 25, Tuesday, StockEdge reported a staggering number of 90 stocks trading in the overbought zone, indicating potential cautionary signals for investors
Over 78 stocks were trading in an overbought zone on July 24, identified by the Relative Strength Index (RSI) as having risen too quickly and requiring a price correction. Economic Times has selected ten stocks, including Esab India, Aarti Drugs, and Tata Motors, as their top buys from the overbought list. The RSI operates within a range of 0-100, with readings of 70 or higher indicating overbought, and readings below 30 showing oversold. The list will be updated for the following day for investors to conduct further research before investing.
Aarti Drugs share price: On technical setup, the stock was last seen trading higher than the 5-day, 20-, 50-, 100- and 200-day moving averages. The counter's 14-day relative strength index (RSI) came at 83.71. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-earnings (P/E) ratio of 28.48 against a price-to-book (P/B) value of 4.24.
Aarti Drugs Ltd board approves buy back through tender offer equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.