The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.

• On Feb. 8, Advanced Drainage Systems reported better-than-expected third-quarter financial results, raised FY24 net sales guidance above estimates and increased its quarterly cash dividend. The company’s stock gained around 26% over the past month and has a 52-week high of $164.67 .
• RSI Value: 74.65
• WMS Price Action: Shares of Advanced Drainage Systems gained 0.9% to close at $163.96 on Thursday.

• On Jan. 25, Southwest Airlines reported a fourth-quarter fiscal 2023 operating revenue increase of 10.5% year-over-year to $6.82 billion, beating the consensus of $6.74 billion. “Our 2024 plan leverages a set of initiatives which, most importantly, includes better aligning the route network to new demand patterns. While it is early in the first quarter, these initiatives are delivering value and we expect them to contribute roughly $1.5 billion in incremental year-over-year pre-tax profits. As a result, we expect double-digit year-over-year operating revenue growth and year-over-year operating margin expansion,” commented Bob Jordan, President and Chief Executive Officer. The company’s stock jumped around 19% over the past month and has a 52-week high of $39.53.
• RSI Value: 72.10
• LUV Price Action: Shares of Southwest gained 1.4% to close at $34.21 on Thursday.