Angel One, TVS Motor Company among 5 stocks with bearish RSI
Relative Strength Index (RSI), which helps gauge the momentum and overbought or oversold conditions of a stock. In this article, we'll discuss RSI, why it's vital in assessing stock movements, and explore five stocks currently in the overbought zone with bearish RSI trends.
The Relative Strength Index (RSI) is a widely used momentum oscillator that measures the speed and change of price movements.
RSI values range from 0 to 100. Traditionally, an RSI above 70 is considered overbought, suggesting the stock may be due for a pullback.
Conversely, an RSI below 30 indicates that the stock may be oversold and could rebound.
RSI is invaluable to investors because it helps identify potential entry and exit points. When assessing overbought stocks with bearish RSI trends, investors need to be cautious as it might indicate an impending price correction.
Exploring Overbought Stocks with Bearish RSI Trends:
On October 23, Monday, StockEdge reported that several stocks were in the overbought zone but exhibited declining or bearish RSI trends.
Among these, we've selected five noteworthy stocks:
1) Bajaj Auto Ltd.
RSI: 69.61
Previous RSI: 77.03
2) Suzlon Energy Ltd.
RSI: 69.21
Previous RSI: 73.56
3) Nestle India Ltd.
RSI: 68.96
Previous RSI: 70.82
4) Angel One Ltd.
RSI: 66.69
Previous RSI: 79
5) TVS Motor Company Ltd.
RSI: 66.09
Previous RSI: 71.15
Data pertaining to stocks with bearish RSI trends while being overbought on October 25, Wednesday, will be updated later today.
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(Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own.
