Nov. 13 at 2:48 AM
$EAT is currently trading at
$105.81, significantly below its 30-day moving average (MA30) of
$120.44 and 50-day moving average (MA50) of
$130.52, indicating a bearish trend. The RSI at 15.38 suggests that the stock is deeply oversold, which may signal a potential reversal, but caution is warranted given the overall downward momentum.
The stock's recent price action shows a 60-day high of
$171.14 and a low of
$100.3, indicating a wide trading range. A potential entry point could be around
$100.50, near the 60D low, to capitalize on a possible bounce. A stop loss should be placed at
$98.00 to manage risk effectively.
Targets can be set at
$110.00, where the price may encounter resistance, and a more ambitious target at
$120.00, aligning with the MA30.
Overall, while the stock is oversold, the bearish trend remains dominant, necessitating a cautious approach.
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