Nov. 14 at 11:40 PM
$CMG is currently trading at
$31.57, significantly below its 30-day moving average (MA30) of
$37.25 and 50-day moving average (MA50) of
$38.17, indicating a bearish trend. The RSI at 16.08 suggests that the stock is oversold, potentially signaling a reversal or a short-term bounce. The 60-day high of
$43.72 and low of
$29.75 establishes a range, with the current price closer to the low, which could attract buyers looking for value.
Suggested entry point is at
$32.00, slightly above the last close to confirm interest. A stop loss can be placed at
$29.50 to manage risk. For targets, consider
$36.00, aligning with the MA30, and
$38.00, near the MA50, to capitalize on potential recovery.
Overall, the trade plan is to take advantage of the oversold condition while being mindful of the prevailing bearish trend.
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