Nov. 13 at 3:10 AM
$CBT is currently trading at
$61.41, significantly below the 30-day MA of
$68.85 and the 50-day MA of
$72.64, indicating a bearish trend. The RSI at 18.26 suggests that the stock is oversold, which could lead to a potential reversal or short-term bounce. However, with the recent price action, the stock remains under pressure, having approached the 60-day low of
$58.99.
Market context indicates a strong downward momentum, as the price is closer to the lower end of its 60-day range. A suggested entry point could be around
$60, with a stop loss set at
$58 to manage risk.
Targets could be set at
$64 (near the 30-day MA) and
$68 (targeting a retracement towards the 50-day MA). This plan allows for a cautious approach, balancing the potential for a rebound against the prevailing bearish sentiment.
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