Nov. 14 at 4:47 AM
$ABG: The current market context shows a bearish trend, with the last close at
$223.28, significantly below the 30-day moving average (MA30) of
$238.04 and the 50-day moving average (MA50) of
$241.07. The RSI at 32.17 indicates that the stock is approaching oversold conditions, suggesting a potential reversal but still reflecting weakness in momentum.
Directional bias is bearish due to the price being below key moving averages and the RSI indicating potential further downside. The recent 60-day high of
$263.38 and low of
$216.34 establishes a range, with the current price closer to the low.
Suggested entry is at
$220.00, with a stop loss at
$215.00 to manage risk. Target 1 is set at
$230.00, aligning with a potential retracement toward the MA30, and Target 2 at
$240.00, near the MA50.
Monitor closely for any shifts in momentum as the stock approaches these levels.
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