Nov. 13 at 1:58 AM
$AFG is currently experiencing a strong upward trend, closing at
$142.35. The RSI of 71.25 indicates overbought conditions, suggesting potential for a pullback. The price is above both the 30-day MA of 137.51 and the 50-day MA of 138.85, which reinforces the bullish trend but also highlights the risk of a correction. The recent high of
$150.02 presents a key resistance level, while the low of
$128.72 provides a solid support base.
Suggested trade plan:
- Entry: Consider entering a short position around
$142.50 to
$143.00, anticipating a pullback.
- Stop: Set a stop-loss at
$145.00 to limit potential losses.
- Targets: First target at
$138.00 (near the 30-day MA) and a second target at
$135.00 (near the 50-day MA).
Monitor the market closely for any changes in momentum.
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