why is OPEN "RSI Overbought"

The Relative Strength Index (RSI) is a technical analysis tool used to measure the speed and change of price movements. It helps identify overbought or oversold conditions in a market. An RSI of 70 or above is generally considered overbought, indicating that a stock's price has moved significantly in one direction and may be due for a correction. Opendoor Technologies Inc. (OPEN) has an RSI of 90.82, which is significantly above the overbought threshold of 70. This suggests that the stock may be overextended and could be due for a pullback or consolidation. The high RSI value indicates that the stock has experienced strong buying pressure, leading to a significant increase in price. However, this also implies that many buyers have already entered the market, leaving fewer buyers to drive the price even higher. As a result, the stock may face downward pressure as some investors take profits or sell their positions. In summary, the RSI overbought signal for OPEN suggests that the stock's recent strong upward momentum may be approaching a potential reversal point, and caution is warranted for investors considering buying the stock.