Nov. 13 at 3:24 AM
$BCC trade plan:
Market context indicates a neutral to slightly bearish sentiment given the last close of
$69.63, which is below both the 30-day moving average (MA30) of 72.4 and the 50-day moving average (MA50) of 76.42. The RSI at 45.27 suggests that the stock is neither overbought nor oversold, indicating potential for further downside. The recent 60-day high of 91.57 and low of 65.62 provide a clear range, with the current price closer to the low.
Directional bias leans bearish due to the price being below key moving averages, combined with the RSI indicating room for downward movement.
Suggested entry:
$68.50 (below current close to confirm bearish sentiment). Stop loss:
$71.00 (above MA30).
Targets:
$66.00 (near the 60D low) and
$64.00 (psychological level).
Monitor for any changes in RSI or price action that may indicate a reversal.
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