Nov. 13 at 2:19 AM
$BPOP is currently trading at
$116.17, showing a neutral RSI of 52.93, indicating no strong momentum in either direction. The price is below both the 30-day moving average (MA30) of
$117.42 and the 50-day moving average (MA50) of
$120.85, suggesting a bearish short-term trend. The recent 60-day high is at
$129.32, while the low is
$108.74, indicating a range-bound market.
Given this context, the directional bias leans bearish due to the price being below key moving averages. A suggested entry point could be around
$115.50, with a stop loss set at
$113.50 to limit potential losses. Target 1 can be set at
$112.00, aligning with the lower end of the recent range, while Target 2 can be at
$110.00, which is close to the 60D low.
This plan allows for a controlled approach in a market showing signs of weakness.
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