Nov. 13 at 2:16 AM
$AWI is currently trading at
$188.71, showing a bearish market context as the RSI is at 27.79, indicating oversold conditions. The price is significantly below the 30-day moving average (MA30) of 195.84 and the 50-day moving average (MA50) of 195.75, reinforcing a downward trend. The recent 60-day high of 206.08 and low of 185.19 suggests a tight range, with potential for a rebound towards the upper end.
For a trade plan, consider entering a long position around
$188.00, anticipating a bounce from the low end of the range. Set a stop loss at
$185.00 to limit risk. Target the first profit level at
$195.00, aligning with the MAs, and a second target at
$200.00, which is a psychological level and close to the recent high.
Monitor the ATR of 4.33 for volatility considerations. This plan capitalizes on potential mean reversion while managing risk effectively.
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