Nov. 20 at 9:30 AM
$AMRX Trade Plan:
Market Context:
$AMRX closed at
$11.64, exhibiting strong momentum with an RSI of 68.53, indicating it is nearing overbought territory but still has room for further gains. The price is above both the 30-day moving average (MA30) of
$10.67 and the 50-day moving average (MA50) of
$10.37, suggesting a bullish trend.
Directional Bias: The current price is approaching the 60-day high of
$12.12, which may act as a resistance level. Given the RSI is above 70, caution is warranted as the stock may pull back.
Suggested Entry: Consider entering at
$11.50, just below the current close, to capitalize on potential upward movement.
Stop: Set a stop-loss at
$11.00 to limit downside risk.
Targets: First target at
$12.00, near the psychological level and below the 60D high. Second target at
$12.10, just below the 60D high for potential profit-taking.
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