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Indian stock market · indicator signal

RSI overbought drop on Yes Bank

On Yes Bank the rsi overbought drop showed up 98 times. The target came first 40% of the time, the stop 57%, and 3% went nowhere within 12 candles.

Counted on Yes Bank: daily candles from January 2015 and hourly candles from October 2024.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily4935%61%4%
Hourly4945%53%2%

Yes Bank against the rest

ChartsFoundTarget firstStop firstWent nowhere
Yes Bank9840%57%3%
All Indian stock market charts6,16935%59%6%
Every market36,01434%58%8%

Year by year

YearFoundTarget firstStop first
2016157%93%
2017757%43%
2018540%40%
2019425%75%
2022560%40%
2023333%67%
20253444%53%
20262143%57%

The last 8 times

Counted by the Trading Class research engine on real past candles: entry at the signal candle's close, target 1.5 × ATR(14), stop 1 × ATR(14), 12 candles to decide, a candle that touches both counts as the stop. How we count. Past data, not a forecast and not advice.

What the rsi overbought drop is

RSI rose above 70, then fell back below it. Buying may be tiring.

Run up a hill as fast as you can and soon you need a breather. RSI is a gauge from 0 to 100 that shows how hard price has been pushed lately. Above 70 means price was pushed up very hard, and dropping back below 70 hints the buyers may be tiring.

The full rsi overbought drop lesson, video and quiz ›

Other patterns on Yes Bank

Inside bar · Stochastic bullish cross · Stochastic bearish cross · Volume profile rejection · Spinning top · Doji · MACD bullish cross · MACD bearish cross · EMA 9/21 bullish cross · EMA 9/21 bearish cross · all of them

The rsi overbought drop elsewhere

Sensex · Nifty 50 · Bank Nifty · Bharti Airtel · Infosys · Mahindra & Mahindra · Coal India · ICICI Bank · Hindalco · State Bank of India · Dow Jones · S&P 500 · Nikkei 225 · Sony · GBP/USD · EUR/JPY · Gold · Silver

Questions

How often does the rsi overbought drop work on Yes Bank?

In 98 cases on Yes Bank, the target (1.5 × ATR) came before the stop (1 × ATR) 40% of the time and the stop came first 57%; 3% went nowhere within 12 candles.

What is the rsi overbought drop?

RSI rose above 70, then fell back below it. Buying may be tiring.