TV18 Broadcast, Finolex Industries among 10 stocks with bearish RSI
Relative Strength Index (RSI) stands out as a crucial tool for understanding market momentum. However, the interaction of RSI with other factors can lead to intriguing scenarios.
On August 30th, StockEdge revealed 12 stocks residing in the overbought zone yet exhibiting bearish or declining RSI trends. From this group, ETMarkets spotlights 10 stocks that provide a window into the intricacies of interpreting contradictory signals.
The Relative Strength Index (RSI) is a momentum oscillator that gauges the speed and change of price movements.
Ranging from 0 to 100, RSI values above 70 signal potential overbought conditions, hinting at a potential reversal, while RSI values below 30 suggest potential oversold conditions and a possible rebound.
Here's a snapshot of the 10 selected stocks exhibiting overbought conditions but showing bearish RSI trends:
Stay tuned for an update on stocks with overbought conditions and bearish RSI trends for August 31st, Thursday, as the data will be refreshed after the market closes.
(Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own.
