AgenciesOn Thursday, July 20, StockEdge reported that 30 stocks were trading with the RSI trending down, indicating a potential weakening in price momentum. From this list, ETMarkets has chosen 10 stocks that warrant closer attention due to their declining RSI.
The RSI is a popular technical indicator used by traders and investors to assess a stock's price momentum. RSI values range from 0 to 100, with readings above 70 generally indicating that a stock is overbought and readings below 30 indicating oversold conditions. The RSI helps investors gauge whether a stock is potentially overvalued or undervalued and whether it is likely to experience a price reversal.
10 Stocks with Declining RSI:
1) Schaeffler India Ltd. (RSI: 49.92, Prev. RSI: 55.73): A leading manufacturer of precision components and systems for the automotive and industrial sectors.
2) Bosch Ltd. (RSI: 49.69, Prev. RSI: 50.63): A multinational engineering and technology company, primarily engaged in the automotive industry.
4) HLE Glascoat Ltd. (RSI: 49.66, Prev. RSI: 50.5): A specialized engineering solutions provider, focusing on glass-lined equipment.
5) Privi Speciality Chemicals Ltd. (RSI: 49.63, Prev. RSI: 54.5): A leading manufacturer of aroma chemicals and essential oils.
6) KPIT Technologies Ltd. (RSI: 49.24, Prev. RSI: 54.86): A global IT consulting and product engineering company.
7) Varroc Engineering Ltd. (RSI: 49.21, Prev. RSI: 51.53): A global automotive component manufacturer.
8) Kennametal India Ltd. (RSI: 49.1, Prev. RSI: 50.81): A company engaged in the production of cutting tools and wear-resistant materials.
9) JK Paper Ltd. (RSI: 49.0, Prev. RSI: 52.39): A leading player in the Indian paper industry.
10) Varun Beverages Ltd. (RSI: 49.0, Prev. RSI: 51.59): One of the largest franchisee of PepsiCo beverages in the world.
(Disclaimer: This is an AI-generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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