Nov. 14 at 4:58 AM
$CNK: The current market context shows a last close at
$29.95, with an RSI of 70.06 indicating overbought conditions. The price is above both the 30-day MA of 27.28 and the 50-day MA of 27.54, suggesting bullish momentum. However, the high of
$30.84 in the last 60 days indicates potential resistance, while the low of
$24.86 suggests a solid support level.
Directional bias is cautiously bullish, but the elevated RSI signals a possible pullback. Suggested entry would be around
$29.50 to capture any potential retracement. Set a stop-loss at
$28.50 to limit downside risk. For targets, aim for
$30.50 as the first target and
$31.00 as a second target, considering the recent high.
Monitor price action closely; if the RSI begins to decline, reassess the bullish stance.
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