AgenciesThe RSI is a widely-used technical indicator that measures the magnitude and velocity of price movements in a stock. RSI values range from 0 to 100 and are typically displayed as a line graph on a chart. When the RSI moves above 70, it signals an overbought condition, indicating that the stock may be overvalued, and a correction or trend reversal to the downside is possible. Conversely, RSI values below 30 indicate an oversold condition, suggesting that the stock might be undervalued and could potentially experience a price rebound.
RSI can confirm the strength of a stock's trend. When the RSI moves up along with the stock's price, it confirms the strength of the uptrend. Conversely, when the RSI moves down along with the stock's price, it validates the bearish trend.
Top 5 Stocks with RSI Trending Up:
1) Prism Johnson Ltd. (RSI: 58.64, Prev. RSI: 46.9)
2) Nestle India Ltd. (RSI: 54.54, Prev. RSI: 47.6)
4) PI Industries Ltd. (RSI: 52.28, Prev. RSI: 49.84)
5) Balaji Amines Ltd. (RSI: 51.36, Prev. RSI: 46.92)
The data for overbought stocks with RSI trending up on August 3, Thursday, will be updated after market hours.
(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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