The Relative Strength Index (RSI) is a technical indicator that measures the speed and size of price changes in a market to help determine if a security is overbought or oversold:
What it does
The RSI compares recent price movements to calculate an index between 0 and 100. It's often displayed as an oscillator, a line graph that moves between these values.
What it signals
An RSI above 70 indicates that prices may be overbought, while an RSI below 30 indicates that prices may be oversold. A reading of 50 indicates a neutral level.
How it's used
Traders use RSI signals to warn of price retracements and to help decide when to buy or sell.
When it's most useful
RSI is most useful in an oscillating market, where prices are alternating between bullish and bearish movements.
Limitations
RSI indications are most trustworthy when they follow the long-term trend. It can be difficult to distinguish true reversal signals from false alarms.
J. Welles Wilder Jr. developed the RSI and introduced it in his 1978 book, New Concepts in Technical Trading Systems.
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