Nov. 15 at 1:39 AM
$BLKB Trade Plan:
Market Context: The last close is at
$60.28, indicating a position within the recent trading range. The 60D high is
$70.71 and the low is
$56.22, suggesting a potential for volatility within this range.
Directional Bias: The RSI at 37.15 indicates that
$BLKB is approaching oversold territory, which may suggest a potential upward reversal. However, the price is below both the 30-day MA (62.74) and the 50-day MA (64.32), indicating bearish momentum in the short to medium term.
Suggested Entry: Consider entering a long position around
$58.50, which is near the 60D low and could provide a favorable risk-reward ratio.
Stop: Set a stop loss at
$56.00 to limit potential losses if the price breaks below recent support.
Targets: Aim for a first target at
$62.00, aligning with the 30-day MA, and a second target at
$65.00, near the midpoint of the recent high-low range.
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