Nov. 13 at 3:07 AM
$CDP is currently trading at
$29.23, showing a robust RSI of 64.56, indicating it is nearing overbought territory. The price is above both the 30-day moving average (MA30) of
$28.35 and the 50-day moving average (MA50) of
$29.07, suggesting a bullish trend. However, the proximity to the 60-day high of
$31.24 indicates potential resistance ahead.
Directional bias leans bullish due to the price being above key moving averages, but caution is warranted given the RSI level.
Suggested entry point:
$29.00, slightly below the current price to confirm bullish momentum.
Set a stop loss at
$28.50 to manage risk, considering the ATR of
$0.56.
Targets can be set at
$30.50 (near the previous resistance) and
$31.00 for a more aggressive approach, taking advantage of the recent high.
Monitor the price action closely for any signs of reversal.
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