Nov. 13 at 1:58 AM
$BLDR is currently trading at
$106.88, near the 60D low of
$106.14, indicating potential support. The RSI at 25.64 suggests that the stock is oversold, which may lead to a price rebound. However, the moving averages (MA30 at 120.29 and MA50 at 125.06) indicate a bearish trend, as the price is significantly below these averages.
Market context shows that the stock has room to move upwards towards the 60D high of
$151.03, but the current momentum is weak. A cautious approach is warranted.
Suggested entry is at
$107.50, slightly above the current close to confirm upward movement. Set a stop loss at
$105.50 to limit potential losses. Target 1 is at
$115.00, near the MA30, and Target 2 is at
$120.00, near the MA50.
This plan leverages the oversold RSI while considering the overall bearish trend indicated by the moving averages.
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