Nov. 14 at 3:24 AM
$CQP is currently trading at
$52.14, with an RSI of 36.12, indicating that it is approaching oversold territory. The price is below the 30-day moving average (MA30) of
$52.42 and the 50-day moving average (MA50) of
$52.74, suggesting bearish momentum in the short to medium term. The recent 60-day high of
$55.75 and low of
$49.53 indicate a trading range that could provide support and resistance levels.
Given the current metrics, a potential trade plan could involve a cautious bullish bias, anticipating a rebound from the lower end of the range. Suggested entry could be around
$50.00, with a stop loss set at
$49.00 to limit downside risk. Target 1 could be set at
$52.00, aligning with the MA30, and Target 2 at
$54.00, near the recent high.
Monitor the RSI for signs of recovery and watch for price action near the support level.
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