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There has been little change on the overbought and oversold lists, as the relatively tight trading range for the FTSE 100 precludes any significant moves into or out of extreme RSI ranges. It is important to remember that shares can remain overbought or oversold for an extended period, and a simple RSI signal is not, by itself, a signal to open a trade.
For Provident Financial, it is worth nothing that we have been sharply overbought twice before this year, and each time we had a brief decline before the rally resumed. The same thing may occur this time round, and the share price certainly looks overextended at the present moment, being 8.7% above the 50-day moving average.