Ujjivan SFB, Aavas Financiers among 4 stocks with RSI bearish
Relative Strength Index (RSI), a valuable indicator that helps assess the strength and potential direction of a stock's price movement. On October 5, Thursday, StockEdge identified four stocks that were in the overbought zone but exhibited bearish or declining RSI trends. Today, we'll delve into the significance of RSI and explore these four stocks that warrant attention.
The Relative Strength Index, commonly known as RSI, is a momentum oscillator that measures the speed and change of price movements.
It is scaled between 0 and 100 and is typically used to identify overbought and oversold conditions in a stock. An RSI value above 70 suggests overbought conditions, while an RSI below 30 indicates oversold conditions.
Now, let's explore four stocks that are trading in the overbought zone but have bearish RSI trends:
1. Aditya Birla Sun Life AMC Ltd.
RSI: 69.77
Prev.
RSI: 71.52
2. Ujjivan Small Finance Bank Ltd.
RSI: 69.43
Prev. RSI: 72.37
3. Eris Lifesciences Ltd.
RSI: 64.03
Prev.
RSI: 71.21
4. Aavas Financiers Ltd.
RSI: 61.44
Prev. RSI: 71.72
(Disclaimer: This is an AI-generated article.
