Nov. 21 at 2:18 AM
$BK is currently trading at
$106.44, below both the 30-day moving average (MA30) of
$108.1 and the 50-day moving average (MA50) of
$107.91, indicating a bearish trend. The RSI of 44.29 suggests that the stock is neither overbought nor oversold, but closer to neutral, which may indicate potential for further downside. The recent 60-day high of
$113.74 and low of
$102.63 establish a trading range that suggests volatility, with the current price closer to the low.
For a trade plan, consider entering a short position at
$106.00, with a stop loss set at
$108.00 to limit potential losses. Target the first exit at
$104.00, aligning with the lower end of the recent trading range, and a second target at
$102.50, just above the 60D low. This plan capitalizes on the current bearish sentiment and the proximity to key moving averages.
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