Prism Johnson, Oberoi Realty among 10 stocks with RSI trending down

The world of investing is often compared to a roller coaster ride, with its constant ups and downs. Amid this roller coaster, investors seek reliable indicators to navigate their financial journey. One such indicator, the Relative Strength Index (RSI), has gained significant attention for its ability to provide insights into stock movements and potential trends. In a recent observation by StockEdge, over 30 stocks were found to be trading with a downtrend in RSI. Of these, ETMarkets handpicked 10 stocks that exhibited intriguing patterns, opening avenues for deeper analysis and investor consideration.

The RSI is a momentum oscillator that measures the speed and change of price movements. RSI values range from 0 to 100, with readings above 70 indicating overbought conditions and readings below 30 indicating oversold conditions. This tool helps investors assess whether a stock has been overbought or oversold, potentially signaling a reversal in the price trend.

RSI operates on the principle that a stock's price movement is a reflection of its own strength relative to the broader market. When a stock's RSI trends downward, it suggests that the stock's recent losses are outweighing its gains. This can be interpreted as a possible shift in investor sentiment, signaling caution for those considering an entry or exit.

Diving into the Selected Stocks

Among the pool of stocks identified with a downtrend in RSI, ETMarkets singled out 10 noteworthy candidates for closer inspection:

1) Prism Johnson Ltd.

2) Restaurant Brands Asia Ltd.

3) Brightcom Group Ltd.

4) Global Health Ltd.

5) Oberoi Realty Ltd.

6) Sterlite Technologies Ltd.

7) Glenmark Pharmaceuticals Ltd.

8) Symphony Ltd.

9) Bharat Electronics Ltd.

10) Procter & Gamble Hygiene and Health Care Ltd.

As of August 18, Friday, ETMarkets reported the intriguing downtrends in RSI for the selected stocks. Keep in mind that market trends are highly dynamic, and the status of stocks with RSI trending down on August 21, Monday, will be updated later today 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)