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RSI, or Relative Strength Index, is a momentum indicator used in technical analysis. It measures the speed and change of price movements to determine whether a stock is overbought or oversold. Â
- Overbought: When RSI is above 70, it suggests the stock's price has risen too quickly and might be due for a correction or pullback.
- Oversold: When RSI is below 30, it indicates the stock's price has fallen too sharply and might be a potential buying opportunity.
A rapid increase in RSI suggests that the stock's price is rising at an accelerating pace. This could be a bullish signal, indicating that the stock's upward trend is gaining strength.
Historically, we can all see by the screenshot in the chart, when RSI gets up to the 60's on GME, things can get shut down quickly (August so far), or pop above 80. Now with GME's background activities being more private without the credit facility, I think we are in for a ride we have never seen before. Cheers regards.
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