RSI stands for Relative Strength Index, which is a technical indicator used in the analysis of financial markets
. It is intended to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period. The RSI is classified as a momentum oscillator, measuring the velocity and magnitude of price movements
. It measures the speed and magnitude of a security's recent price changes to evaluate overvalued or undervalued conditions in the price of that security
. The RSI oscillates between zero and 100, and traditionally, an RSI reading of 70 or above indicates an overbought situation, while a reading of 30 or below indicates an oversold condition
. The RSI can also indicate securities that may be primed for a trend reversal or corrective pullback in price
