The Relative Strength Index (RSI) 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 shorter period RSI is more reactive to recent price changes, so it can show early signs of reversals. 9-Day RSI is sometimes used together with 14-Day RSI in a two period divergence strategy.
As of today (2024-04-28), Tennant Co's 9-Day RSI is 42.80.
The industry rank for Tennant Co's 9-Day RSI or its related term are showing as below:
TNC's 9-Day RSI is ranked better than 73.11% of 3098
companies
in the Industrial Products industry
Industry Median: 50.115
vs TNC: 42.80
Competitive Comparison of Tennant Co's 9-Day RSI
For the Specialty Industrial Machinery subindustry, Tennant Co's 9-Day RSI, along with its competitors' market caps and 9-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.
Tennant Co's 9-Day RSI Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Tennant Co's 9-Day RSI distribution charts can be found below:
* The bar in red indicates where Tennant Co's 9-Day RSI falls into.
Tennant Co (NYSE:TNC) 9-Day RSI Calculation
The formula for calculating RSI is:
RSI
=
100
–
[ 100
/
( 1 + Average Gain
/
Average Loss )]
* 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.
Tennant Co (NYSE:TNC) 9-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. A shorter period RSI is more reactive to recent price changes, so it can show early signs of reversals. 9-Day RSI is sometimes used together with 14-Day RSI in a two period divergence strategy.
Tennant Co 9-Day RSI Related Terms
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Tennant Co is a manufacturer of floor cleaning equipment, wood flooring, and wood products. It operates in four geographic business units including North America; Latin America; Europe, Middle East, Africa; and Asia Pacific. The company offers products and solutions consisting of mechanized cleaning equipment, detergent-free, and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
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