Nov. 22 at 1:43 AM
$APP: The current market context indicates a bearish sentiment, reflected by the RSI of 23.51, which signals oversold conditions and potential for a rebound. However, the price is significantly below both the 30-day MA (590.67) and the 50-day MA (611.23), suggesting continued downward pressure. The recent high of 745.61 and low of 452.25 further illustrate a wide trading range, indicating volatility.
Directional bias remains bearish in the short term, but with the RSI indicating oversold conditions, a potential reversal could occur.
Suggested entry point:
$520.26 (last close).
Stop loss:
$490 (below the recent low).
Targets:
$550 (first target, near the 30-day MA) and
$580 (second target, below the 50-day MA).
Monitor for any signs of bullish momentum to adjust the strategy accordingly.
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