Nov. 14 at 4:22 AM
$CGNX is currently trading at
$37.05, significantly below its 30-day moving average (MA30) of
$43.92 and 50-day moving average (MA50) of
$44.44, indicating a bearish trend. The RSI at 7.77 suggests the stock is extremely oversold, which may lead to a potential reversal. However, the recent price action is still within the 60-day range of
$36.62 (low) to
$49.76 (high), indicating a possible consolidation phase.
For a trade plan, consider entering a long position at
$37.50, slightly above the last close to confirm upward momentum. Set a stop-loss at
$36.50 to limit potential losses. Target 1 can be set at
$40.00, near the MA30, and Target 2 at
$42.00, approaching the MA50. This strategy leverages the oversold condition while managing risk effectively.
https://privateprofiteers.com
