Nov. 21 at 2:10 AM
$AMAT Trade Plan:
Market Context: The last close is at
$220.23, indicating a current price below the 30-day moving average (MA30) of
$228.18, suggesting bearish sentiment. The RSI at 42.74 indicates that the stock is nearing oversold territory, which could lead to a potential reversal.
Directional Bias: The price is currently between the 60-day high of
$242.5 and the low of
$154.47, indicating a wide trading range. The price is above the 50-day moving average (MA50) of
$217.28, providing some support, but the bearish trend is reinforced by being below the MA30.
Suggested Entry: Consider entering a long position near
$217, close to the MA50 support level.
Stop: Set a stop-loss at
$210 to limit potential losses.
Targets: First target at
$228 (MA30 resistance), and a second target at
$240, approaching the 60-day high.
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