NorAm Drilling AS (FRA:TM9) 14-Day RSI : 45.83 (As of Jun. 25, 2024)

Competitive Comparison of NorAm Drilling AS's 14-Day RSI

For the Oil & Gas Equipment & Services subindustry, NorAm Drilling AS's 14-Day RSI, along with its competitors' market caps and 14-Day RSI data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

NorAm Drilling AS's 14-Day RSI Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, NorAm Drilling AS's 14-Day RSI distribution charts can be found below:

* The bar in red indicates where NorAm Drilling AS's 14-Day RSI falls into.

NorAm Drilling AS  (FRA:TM9) 14-Day RSI Calculation

The formula for calculating RSI is:

* Note that the formula uses a positive value for the average loss.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NorAm Drilling AS  (FRA:TM9) 14-Day RSI Explanation

The Relative Strength Index (RSI), developed by J. Welles Wilder in his book “New Concepts in Technical Trading Systems.”, is a momentum oscillator that measures the speed and change of price movements. The RSI is most typically used on a 14-day period, measured on a scale from 0 to 100.

Traditionally, an asset is considered overbought or overvalued when the RSI is above 70 and oversold or undervalued when it is below 30. A RSI surpasses the 30 level indicates a bullish sign, when it slides below 70 level, it’s a bearish sign. This level can be adjusted depending on the security’s pattern and the market’s underlying trend. In an uptrend or bullish market, the RSI might range within a higher interval, investors could set the support level higher. If a downtrend or bearish market occurs, investors may need to lower the resistance level.

RSI can also be used in trading techniques to indicate the trading signal, such as Divergences and Swing Rejections.

NorAm Drilling AS 14-Day RSI Related Terms

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NorAm Drilling AS (FRA:TM9) Business Description