In this article, we explore the concept of RSI, its significance in analyzing stock trends, and delve into the top 10 stocks, carefully selected by ETMarkets, that are currently trading in the overbought zone with bearish RSI trends, based on data sourced from StockEdge on July 28, Friday
The Relative Strength Index (RSI) is a popular momentum oscillator used by traders and investors to gauge the speed and change of price movements in a stock
​Herein this implies that the bearish reversal has occurred and one should sell when the price moves below 80 from the overbought zone. Primarily, this indicates that the price has become bearish and moving forward to the oversold territory.
StockEdge reported an overbought RSI trend in about a dozen stocks with a declining bearish trend and a fall in RSI below 70. From this list, ETMarkets picked 10 stocks that reveal an intriguing combination of an overbought zone and bearish RSI trends for analysis. The Relative Strength Index (RSI) is a crucial technical
The RSI is a widely-used technical oscillator that measures the magnitude and velocity of recent price movements in a stock. RSI values range between 0 and 100, with readings above 70 considered overbought and readings below 30 considered oversold. RSI is calculated using the average gains and losses over a specified period, typically 14 days. This calculation provides insights into a stock s potential price strength or weakness.