Nov. 15 at 8:28 AM
$BRO is currently trading at
$80.7, which is below the 30-day moving average (MA30) of
$85.92 and the 50-day moving average (MA50) of
$88.73, indicating a bearish trend. The RSI at 31.02 suggests that the stock is oversold, which may lead to a potential reversal or short-term bounce. The recent high of
$97.73 and low of
$76.17 over the past 60 days further highlight the current price's position within this range.
For a trade plan, consider entering a long position around
$80.7, with a stop loss set at
$76.0 to manage risk. Target the first exit at
$85.0, which aligns with the MA30, and a second target at
$88.0, near the MA50. This plan takes advantage of the potential for a rebound while respecting the overall bearish context.
Stay vigilant for market shifts, as the ATR of 2.14 indicates moderate volatility.
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