Nov. 14 at 2:53 AM
$BX is currently experiencing bearish momentum, as indicated by the low RSI of 19.11, suggesting it is oversold. The last close at
$139.53 is significantly below the 30-day moving average (MA30) of
$153.81 and the 50-day moving average (MA50) of
$163.66, reinforcing a downward trend. The price is also near the 60-day low of
$137.96, indicating limited downside potential.
For a trade plan, consider a short position with an entry at
$139.00. Set a stop loss at
$143.00 to manage risk. Given the current market context, target a first profit at
$135.00, which aligns with the 60-day low, and a second target at
$130.00, anticipating further downside if bearish momentum continues.
Overall, the bearish trend, low RSI, and proximity to historical lows suggest a cautious approach with potential for shorting.
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