Nov. 14 at 4:35 AM
$CAR is currently trading at
$137.55, showing a bearish market context. The RSI at 30.07 indicates that the stock is oversold, suggesting a potential reversal could occur. However, the price is significantly below the 30-day moving average (MA30) of 146.21 and the 50-day moving average (MA50) of 150.92, reinforcing a downward trend.
Given the recent 60-day high of 167.69 and low of 130.38, the stock has a range that could provide trading opportunities. A suggested entry point could be around
$130.50, near the 60D low, with a stop loss at
$128.00 to limit potential losses.
Targets could be set at
$140.00, aligning with the MA30, and a secondary target at
$145.00, approaching the MA50. This plan allows for a risk-reward ratio that could be favorable if the stock begins to recover from its oversold condition.
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