Nov. 13 at 1:07 AM
$CTAS: The current market context shows a last close of
$185.82, which is near the 60D low of
$180.39, indicating potential support. The RSI at 30.41 suggests that the stock is oversold, which could lead to a reversal. However, both the 30-day MA (190.34) and 50-day MA (195.15) are above the current price, indicating a bearish trend in the short to medium term.
Directional bias leans slightly bullish due to the oversold RSI, but caution is warranted given the moving averages.
Suggested entry:
$186.50, slightly above the last close to confirm upward momentum.
Stop loss:
$180.00, just below the 60D low to limit potential losses.
Targets:
$192.00 (near the 30-day MA) and
$195.00 (near the 50-day MA) for potential profit-taking.
Monitor for confirmation of reversal before entering.
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