ICICI Bank among 5 stocks flashing downtrend signal as RSI trends below 50

, ETMarkets.com|

07 Sep 2023, 02:53 PM IST

1/7

Headed Downwards?

RSI or Relative Strength Index computes the ratio of the recent upward price movement to the absolute price movement. The metric ranges from 0-100 and the time period considered here by StockEdge to measure the metric is 14 days. Typically, RSI is the momentum indicator used in the technical analysis of stocks and helps to determine the overvalued or undervalued state of the security.

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2/7

Significance of RSI trending down

This is a downtrend signal as the RSI trends below 50 from above. So, here are all the large and midcaps giving a downtrend signal. Note the data is pertaining to the previous session i.e. September 6. (Source: StockEdge)

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3/7

Union Bank of India

RSI as on September 6: 48.98| Previous close: Rs 88

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4/7

Axis Bank

RSI as on September 6: 48.91| Previous close: Rs 965.05

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5/7

HDFC AMC

RSI as on September 6: 48.8| Previous close: Rs 2457.1

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6/7

Power Finance Corporation

RSI as on September 6: 47.07| Previous close: Rs 257.5

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7/7

ICICI Bank

RSI as on September 6: 44.5| Previous close: Rs 957.5

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ICICI Bank among 5 stocks flashing downtrend signal as RSI trends below 50

Headed Downwards?

Significance of RSI trending down

Union Bank of India

Axis Bank

HDFC AMC

Power Finance Corporation

ICICI Bank

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​ICICI Bank among 5 stocks flashing downtrend signal as RSI trends below 50​

Headed Downwards?

​Significance of RSI trending down

​Union Bank of India

​Axis Bank

​HDFC AMC

​Power Finance Corporation

​ICICI Bank

To post this comment you must

Fill in your details:

Share this Comment:

ICICI Bank among 5 stocks flashing downtrend signal as RSI trends below 50

Significance of RSI trending down

Union Bank of India

Axis Bank

HDFC AMC

Power Finance Corporation

ICICI Bank