iStockThe Relative Strength Index (RSI) is a versatile tool that traders and investors use to gauge the momentum of a stock's price. This invaluable indicator operates on a scale from 0 to 100, helping identify overbought or oversold conditions, assess price changes, and more. Why does RSI hold such significance?
Top 5 Stocks in Overbought Territory with Declining RSI
On October 17, StockEdge reported that 11 stocks were situated in the overbought zone but exhibited a declining RSI. Here are 5 stocks that have caught our attention:
1) The Ramco Cements Ltd.
RSI: 69.82
Prev. RSI: 73.6
RSI: 68.31
Prev. RSI: 71.68
3) Gujarat Ambuja Exports Ltd.
RSI: 67.04
Prev. RSI: 73.99
4) Kaynes Technology India Ltd.
RSI: 66.69
Prev. RSI: 72.51
5) Bosch Ltd.
RSI: 66.5
Prev. RSI: 75.91
Data pertaining to stocks whose RSI was trading bearish while the stocks were overbought on October 18, Wednesday will be updated later today.
(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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