buy calculating the relative strength of stocks, you gain a perception of a stock’s performance in relation to similar stocks in the same industry. to calculate a stock’s relative strength, you must use the relative strength index (rsi), which market expert j. welles wilder developed as a measure of stock performance and an indication of future probabilities. establish an evaluation period for which you will calculate your stock’s relative strength. calculate the share price changes for the stock for each day of your evaluation period by determining the difference between each day’s closing share price and the previous day’s closing share price. add together and record the total of the positive price change days. add the together and record the total of the negative price change days.
the resulting number will fall between 0 and 100, which represents the stock’s relative strength. wilder’s model suggests that relative strength values that fall quickly — specifically in the range below 30 — may represent oversold stocks due for a rally. similarly, relative strength values that rise quickly — specifically in the range between 70 and 100 — can represent overbought stocks due for a future price correction. recalculate a stock’s relative strength daily by adding each day’s price changes and removing data from the oldest day in the evaluation period. traders should avoid choosing a stock based on a single indicator, and should instead compare stocks against multiple stock indicator tools. she attended kilgore college and majored in english.
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