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

economictimes.indiatimes.com:

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.