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 May 6, Astera Labs posted better-than-expected quarterly results. “Astera Labs started the year strong, with Q1 revenue growing 13% sequentially and 144% year-over-year, and exceeding our first quarter guidance for gross margin and earnings per share,” said Jitendra Mohan, Astera Labs’ Chief Executive Officer. The company's stock jumped around 20% over the past month and has a 52-week high of $147.39.
• RSI Value: 70.6                                
• ALAB Price Action: Shares of Astera Labs closed at $71.20 on Friday.
• Edge Stock Ratings: 34.53 Momentum score with Value at 7.74.

• On May 8, Microchip Technology reported better-than-expected fourth-quarter sales results and issued first-quarter EPS and revenue guidance above estimates. Steve Sanghi, Microchip’s CEO and President commented, Our March quarter revenue of $970.5 million exceeded the midpoint of our guidance, and we believe marks the bottom of this prolonged industry down cycle for Microchip.” The company's stock gained around 42% over the past month and has a 52-week high of $100.56.
• RSI Value: 80.2
• MCHP Price Action: Shares of Microchip Technology closed at $55.33 on Friday.