Nov. 15 at 12:27 AM
$ARE: The current market context shows a last close of
$52.29, significantly below the 30-day moving average (MA30) of
$66.57 and the 50-day moving average (MA50) of
$73.91. The RSI is at 14.86, indicating an oversold condition, suggesting a potential for a price rebound. The 60-day high of
$88.24 and low of
$51.63 indicates a trading range, with the current price near the lower end.
Directional bias is bearish in the short term due to the distance from the MAs, but the oversold RSI suggests a potential reversal.
Suggested entry:
$52.50 (slightly above the last close to confirm upward momentum).
Stop loss:
$50.00 (below the recent low).
Targets:
$60.00 (first target) and
$65.00 (second target), aligning with the MA30 and potential resistance levels.
Monitor price action closely for confirmation of the reversal.
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