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 July 8, Parsons disclosed that the company has been appointed as the Project Management Consultant on the Dubai Metro Blue Line project by the government of Dubai’s Roads and Transport Authority (RTA). ‘‘We are proud of our long-standing partnership with the RTA and are committed to working with their expert team on expanding the Dubai Metro network in line with the RTA’s goal to provide seamless, safe, and sustainable mobility solutions that cater to the needs of Dubai’s growing population,” said Pierre Santoni, President, Infrastructure EMEA at Parsons. The company's stock jumped around 7% over the past month and has a 52-week high of $114.68.
• RSI Value: 70.3                                
• PSN Price Action: Shares of Parsons fell 0.6% to close at $74.34 on Monday.
• Edge Stock Ratings: 25.31 Momentum score with Value at 1.12.