Nov. 14 at 11:14 PM
$COST is currently trading at
$922.98, with an RSI of 46.68, indicating a neutral momentum. The price is below the 30-day moving average (MA30) of 928.15 and the 50-day moving average (MA50) of 934.93, suggesting a bearish short-term trend. The recent high of 981.0 and low of 903.29 over the past 60 days indicate a range-bound market, with potential resistance near the high and support near the low.
For a trade plan, consider entering a short position at
$920.00, with a stop loss set at
$935.00 to manage risk. Target 1 can be set at
$910.00, aligning with the 60D low, and Target 2 at
$900.00, providing a psychological support level.
This strategy leverages the current bearish sentiment indicated by the MAs and RSI, while also respecting the established price range.
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