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As long as the stock is priced above the 200-day SMA on the daily timeframe, it is generally considered to be in an overall uptrend
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On February 17, five large-cap stocks were flagged in the RSI Trending Up scan after gains of 2–5%. Their RSI readings crossed above 50 from lower levels, indicating strengthening price momentum and rising buying interest. Traders monitor this technical cue for potential bullish continuation in these stocks.
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On February 17, five Nifty200 stocks featured in the bullish White Marubozu scanner, indicating decisive buying control from open to close. The long, shadowless candlestick signals strong demand and improving price momentum. Traders often use this pattern to anticipate a potential continuation of the uptrend and make informed buying decisions.
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Asian stocks saw a modest rise in thin holiday trading, influenced by a volatile US session and concerns over the AI outlook. Investors are closely watching the Federal Reserve’s interest rate path, with mixed signals from officials regarding potential cuts. Attention also turns to the Reserve Bank of New Zealand’s policy decision later today.
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