This article delves into the intriguing realm of stock analysis, uncovering a fascinating phenomenon where stocks are in the overbought zone but exhibit bearish Relative Strength Index (RSI) trends. By highlighting data from a recent screener, we explore 9 such stocks and shed light on the importance of assessing RSI trends in stock movement analysis.
Relative Strength Index (RSI) is a momentum oscillator that helps traders and investors gauge the momentum and strength of a stock s price movement. RSI is calculated using a formula that takes into account the average gains and losses over a specified period.
The RSI is a technical indicator widely used by traders and investors to gauge the momentum of a stock. It oscillates between 0 to 100 and measures the speed and change of price movements.
Over 340 stocks have shown formation of Golden Crossover, a widely recognised technical indicator, as their 50-day moving average crossed above their 200-day moving average, indicating a shift in momentum from bearish to bullish. ETMarkets has identified ten of the stocks which include Can Fin Homes, Canara Bank, and Ceat.
/PRNewswire/ The "Plumbing Fittings and Fixtures: Global Strategic Business Report" report has been added to ResearchAndMarkets.com s offering. The global.