Nov. 15 at 10:01 PM
$ANET is currently trading at
$131.37, significantly below its 30-day moving average (MA30) of
$146.99 and 50-day moving average (MA50) of
$146.15, indicating a bearish trend. The RSI at 21.53 suggests that the stock is oversold, which could imply a potential reversal or bounce in the near term. The recent 60-day high of
$164.94 and low of
$125.36 further highlight the volatility and possible support at the lower end of this range.
For a trade plan, consider entering a long position at
$132.00, with a stop loss set at
$125.00 to manage risk. Target 1 can be set at
$140.00, aligning with a potential recovery towards the MA50, and Target 2 at
$146.00, near the MA30. This strategy allows for a favorable risk-reward ratio while acknowledging the current bearish sentiment.
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