Nov. 15 at 9:50 AM
$BGC: The current market context shows a last close at
$9.04, with an RSI of 39.1 indicating a potential oversold condition. The price is below both the 30-day moving average (MA30) of
$9.18 and the 50-day moving average (MA50) of
$9.39, suggesting bearish momentum. However, the RSI indicates a possible reversal opportunity as it approaches the lower end of the range.
Directional bias leans slightly bullish due to the proximity to the 60-day low of
$8.52, which may act as a support level. Suggested entry is around
$9.00, with a stop loss at
$8.75 to limit downside risk. Target 1 is set at
$9.20, near the MA30, while Target 2 is at
$9.50, providing a reasonable risk-reward ratio.
Overall, monitor for a potential reversal with caution due to the current bearish trend. https://privateprofiteers.com
