RVNL, Mahindra & Mahindra among 10 stocks with RSI trending up
Relative Strength Index (RSI) shines as a beacon, offering valuable insights into the momentum and potential trends of stocks. This article unravels the power of RSI and how it can influence investment strategies, as we delve into the world of stocks on the rise.
At its core, the RSI is a momentum oscillator that gauges the speed and magnitude of recent price movements in a stock.
It operates on a scale from 0 to 100, helping traders identify whether a stock is currently on the rise or in decline. The RSI accomplishes this by analyzing the size of recent gains and losses, generating a value that fluctuates between the two extremes.
An RSI above 70 often suggests that a stock is trending upwards, while an RSI below 30 points towards a downward trend.
On August 28, Monday, StockEdge, a respected stock market analysis platform, revealed that an impressive 30 stocks were trending upwards according to RSI data. ETMarkets, known for its commitment to actionable insights, handpicked 10 stocks that were currently experiencing an upward trend in RSI.
As of the mentioned date, here are these selected stocks, along with their RSI values and the previous RSI readings:
It's important to note that data for stocks trending upwards in RSI on August 29 will be updated after market hours on the same day.
(Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own.
