Nov. 14 at 3:59 AM
$CNM is currently in a bearish market context, indicated by an RSI of 10.07, suggesting it is significantly oversold. The last close at
$48.13 is below the 30-day moving average (MA30) of
$51.72 and the 50-day moving average (MA50) of
$52.00, reinforcing a downward trend. The price is near the 60-day low of
$47.82, indicating potential support but also a lack of upward momentum.
Directional bias is bearish, as the price remains below key moving averages and the RSI indicates extreme oversold conditions, which may lead to a corrective bounce.
Suggested entry:
$48.50, above recent price action. Stop loss:
$47.50, just below the 60-day low.
Targets: First target at
$50.00, near the MA30, and a second target at
$51.00, close to the MA50.
Monitor for any signs of reversal or bullish momentum before entering.
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