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In technical analysis, the relative strength index (RSI) helps to provide suggestions as to which stocks have seen extreme moves in the recent past. It is applicable in all timeframes, but it is usually found on the daily chart.
Readings above 70 warn of an overbought condition, suggesting a share may be poised to encounter a downward correction. In contrast, readings below 30 point to an oversold condition that may be poised to see rebound.
It is important to note that nothing is a certainty in financial markets, and an asset may remain overbought or oversold for an extended period without witnessing any ‘correcting’ move.
The stocks currently trading at overbought and oversold levels are shown below: