These 2 midcap, 3 smallcap stocks trade in overbought zone; strategy here

Despite trading in overbought territory Delhivery, Metropolis Health look poised for up to 19% further gains, while Usha Martin stock could dip 9%; suggest technical charts.

Technical charts show that select shares across the market are currently trading in an overbought zone following the sharp rally from the April-month lows.  In technical terms, stocks with a 14-day Relative Strength Index (RSI) reading in excess of 70 are considered overbought stocks. The RSI is a momentum indicator that analysis the magnitude of recent price changes in a particular stock. The RSI is measured on a scale of 0 - 100, a reading above 70 is considered overbought, while a reading below 30 is considered as oversold.  In general, stocks trading in an overbought zone tend