Nov. 13 at 2:44 AM
$CACC is currently trading at
$439.82, below both the 30-day moving average (MA30) of
$475.87 and the 50-day moving average (MA50) of
$484.42, indicating a bearish trend. The RSI at 33.28 suggests that the stock is approaching oversold conditions, which may lead to a potential reversal or bounce in the near term. The recent price action has seen a 60-day high of
$530.9 and a low of
$401.9, establishing a range that could provide resistance and support levels.
Suggested trade plan:
- Entry: Consider entering a long position around
$440, anticipating a potential bounce from oversold conditions.
- Stop: Set a stop loss at
$401.00, just above the 60D low to limit downside risk.
- Targets: First target at
$475.00 (near the MA30), and a second target at
$500.00, which is a psychological level and near the upper range of the recent price action.
Monitor market conditions closely for any changes.
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