Nov. 15 at 12:31 AM
$DUOL: The current market context shows a significant downward trend, with the last close at
$185.07, well below the 30-day MA of
$280.2 and the 50-day MA of
$288.39. The RSI at 11.11 indicates extreme oversold conditions, suggesting a potential reversal or bounce. However, the proximity to the 60D Low of
$182.0 highlights a risk of further declines.
Directional bias leans bearish due to the prevailing MAs and the recent price action. Suggested entry point is around
$185.00, with a stop loss set at
$180.00 to limit potential losses. Target 1 is
$200.00, aligning with a psychological resistance level, while Target 2 is
$220.00, near the 30-day MA.
Given the ATR of 17.28, the trade allows for volatility while maintaining a risk-managed approach. Monitor closely for any signs of reversal or increased buying pressure.
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