KNR Constructions, Nesco among 10 stocks with bearish RSI
Relative Strength Index (RSI). RSI is a powerful indicator that offers insights into a stock's momentum and potential trends. In this article, we'll explore the significance of RSI and analyze 10 stocks that are currently in the overbought zone but show a bearish or declining RSI trend, as reported on September 1 by StockEdge.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements.
It provides a numeric value that ranges from 0 to 100, helping investors identify overbought and oversold conditions in a stock. Here's a brief overview of why RSI matters:
RSI above 70: Typically indicates that a stock may be overbought and could face a price correction. RSI below 30: Suggests that a stock may be oversold, indicating a potential buying opportunity.
Exploring the Top 10 Overbought Stocks with Bearish RSI Trends:
On September 1, StockEdge reported 16 stocks in the overbought zone but with bearish or declining RSI trends. We've selected the top 10 for further analysis:
1) Sterlite Technologies Ltd.
(RSI: 69.41, Prev. RSI: 76.11)
2) Sumitomo Chemical India Ltd. (RSI: 69.11, Prev.
RSI: 71.00)
3) KNR Constructions Ltd. (RSI: 68.42, Prev. RSI: 70.23)
4) Supreme Industries Ltd.
(RSI: 68.37, Prev. RSI: 73.62)
5) Nesco Ltd. (RSI: 67.90, Prev.
RSI: 70.62)
6) PCBL Ltd. (RSI: 67.39, Prev. RSI: 73.33)
7) CE Info Systems Ltd.
(RSI: 67.30, Prev. RSI: 71.26)
8) Natco Pharma Ltd. (RSI: 67.02, Prev.
RSI: 71.87)
9) KEI Industries Ltd. (RSI: 66.72, Prev. RSI: 70.10)
10) HFCL Ltd.
