Nov. 13 at 3:12 AM
$ASAN is currently trading at
$13.29, below its 30-day moving average (MA30) of
$14.02 and 50-day moving average (MA50) of
$13.96, indicating a bearish trend. The RSI at 34.35 suggests that the stock is nearing oversold territory, which could indicate a potential reversal or bounce. However, with the recent 60-day high of
$15.71 and low of
$12.78, the stock is currently closer to the lower end of this range, reinforcing a cautious outlook.
For a trade plan, consider entering a position at
$13.10, just below the last close, to capitalize on a potential rebound. Set a stop loss at
$12.70 to manage risk. Target the first exit at
$14.00, aligning with the MA30, and a second target at
$14.50, which is a psychological resistance level.
Overall, the trade is based on a potential bounce from oversold conditions and proximity to the recent low.
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