Nov. 15 at 12:55 AM
$ARW is currently trading at
$110.21, showing a bearish market context. The RSI at 20.21 indicates that the stock is oversold, suggesting potential for a corrective rally. However, the price is significantly below the 30-day MA of 116.43 and the 50-day MA of 119.3, reinforcing a downward trend. The recent 60-day high of 130.42 and low of 106.58 further highlight the current weakness, with the price nearing the lower end of this range.
Suggested trade plan: Consider entering a long position around
$110.00, with a stop loss set at
$106.50 to manage risk. Target 1 could be set at
$114.00, aligning with the 30-day MA, while Target 2 could be at
$116.00, near the 50-day MA. This plan leverages the oversold condition indicated by the RSI while acknowledging the prevailing bearish trend indicated by the moving averages.
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