Nov. 15 at 12:29 AM
$AOS is currently trading at
$64.74, just above its 60-day low of
$64.65, indicating potential support. The RSI at 31.38 suggests the stock is oversold, which could lead to a reversal or corrective bounce. However, the stock is below its 30-day (67.86) and 50-day (69.87) moving averages, indicating a bearish trend in the short to medium term.
Given the market context, the directional bias is cautiously bullish due to the oversold RSI, but caution is warranted due to the moving averages indicating continued downward pressure.
Suggested entry is at
$65.00, with a stop loss set at
$63.50 to limit downside risk. Target 1 is set at
$67.00, aligning with the 30-day MA, and Target 2 is at
$68.50, near the 60-day high of
$75.20.
Monitor for any changes in momentum or market sentiment that could affect this trade.
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