The Relative Strength Index, commonly referred to as RSI, is a versatile indicator that quantifies the magnitude and speed of recent price changes in a stock. It oscillates between 0 and 100 and is primarily used to identify overbought or oversold conditions. An RSI above 70 is typically considered overbought, suggesting a possible reversal, while an RSI below 30 may indicate that a stock is oversold and due for an upward correction.
5 Stocks with Declining RSI Trends
On October 18, according to data from StockEdge, more than 50 stocks were showing declining RSI trends. From this list, we have chosen 5 stocks to shed light on this interesting scenario:
1) BASF India Ltd.
Previous RSI: 53.63
2) Amara Raja Energy & Mobility Ltd.
Previous RSI: 51.233) Hindustan Petroleum Corporation Ltd.
Previous RSI: 55.22
4) Bharat Electronics Ltd.
Previous RSI: 53.38
5) Rainbow Children’s Medicare Ltd.
Previous RSI: 62.1
Data pertaining to stocks whose RSI was trending down on October 19, Thursday will be updated later today after market hours.
(Disclaimer: This is an AI generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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