Nov. 13 at 3:01 AM
$BHF is currently trading at
$65.83, nearing its 60D high of
$66.33, which suggests a potential resistance level. The RSI at 77.73 indicates that the stock is in overbought territory, signaling a possible pullback. The MA30 (51.3) and MA50 (50.68) are significantly below the current price, reinforcing the strength of the recent upward trend but also highlighting the potential for a correction.
Given the overbought RSI and proximity to the 60D high, the directional bias leans bearish in the short term. Suggested entry for a short position could be around
$65.50, with a stop loss set at
$67.00 to limit potential losses. Target 1 could be set at
$62.00, aligning with a reasonable retracement, and Target 2 at
$60.00, which is a more conservative level reflecting further downside potential.
Monitor the price action closely for confirmation of a reversal.
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