Nov. 14 at 4:21 AM
$CMC trade plan: The last close is
$59.53, with an RSI of 44.3 indicating a neutral stance, suggesting potential for upward movement as it approaches oversold territory. The MA30 at
$59.14 and MA50 at
$58.8 are both below the current price, providing support levels. The 60D high of
$62.38 represents a resistance point, while the 60D low of
$53.08 sets a clear range for potential volatility.
Directional bias leans slightly bullish due to the proximity of the price to moving averages and the RSI indicating room for recovery. Suggested entry is at
$59.60, just above the last close to confirm upward momentum. Set a stop loss at
$58.50 to manage risk. Target 1 is
$61.00, near the 60D high, and Target 2 is
$62.00, allowing for profit-taking as the price approaches resistance.
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