NKE’s daily RSI7 is just 4?
Posted by HanaDaddy | Posted in My thoughts on the market | Posted on 03/04/2007
Tags: NKE
0
RSI daily report generated for 04/03/2007 have 3 stocks listed for ALL(Monthly,Weekly,Daily) RSI7 under 30. And NIKE (NKE) is the one of them. And has RSI7 value of just 4. If this was the correct value, I would have loaded up with NIKE right away.
Daily,Weekly,Monthly all below 30
Total : 3
| symbol | price | change | percent | rsi7m | rsi7w | rsi7d |
|---|---|---|---|---|---|---|
| NKE | 53.20 | -0.01 | -0.0% | 21.43 | 13.32 | 4.02 |
| BBD | 20.36 | +0.36 | +1.8% | 26.89 | 17.13 | 8.85 |
| HOV | 24.53 | +0.16 | +0.7% | 27.30 | 27.75 | 20.66 |
But sadly , the value was incorrect caused by the stock split. Both NKE and BBD’s stock have split today. I did not think of the stock splits when I implemented RSI formula originally.
I have checked other websites to see how their calculations are done.
For www.stockcharts.com, the RSI7 daily value is 47.96 which looks more like a correct value. They normalized the past prices dividing by 2 ( since the stock has been split from 1 to 2 ratio) and calculated the RSI value.
But www.easystock.com doesn’t account the split just like I didn’t. Their daily RSI7 value is just 4 , same as mine.
It feels like that the stockchart.com method is correct, but I don’t like that the normalized historical are showing in the chart.(All past prices are divided by 2)
I will need some time to think how to implement it.
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