The Relative Strength Index (RSI) serves as a valuable metric by measuring the proportion of recent upward movement in a stock’s price in relation to its overall price movement. With a numerical range from 0 to 100, RSI, as assessed over a 14-day period in the StockEdge dataset, furnishes crucial insights. It not only aids in identifying potential uptrends or downtrends but also sheds light on whether a stock is presently overvalued or oversold.
In this context, the spotlight falls on select large-cap stocks that are hinting at a potential upswing in the near future. It’s important to note that the data pertains to the preceding trading day, August 23, as the current day’s data will be updated by the end of the day, as sourced from StockEdge.