Nov. 14 at 3:29 AM
$EIX is currently trading at
$59.08, just below the 60D high of
$59.34, indicating a potential resistance level. The RSI at 57.02 suggests that the stock is neither overbought nor oversold, providing a neutral bias. The 30-day moving average (MA30) at
$56.14 and the 50-day moving average (MA50) at
$55.75 indicate a bullish trend, as the current price is above both MAs.
Given the market context and the current price action, the directional bias leans slightly bullish. A suggested entry point would be around
$59.10, just above the last close, to capture potential upward momentum. A stop loss can be placed at
$57.50 to limit risk.
For targets, consider
$60.50 as the first target, just above the 60D high, and
$61.00 as a second target, which aligns with a psychological resistance level.
Monitor the ATR of 1.22 to adjust position size accordingly.
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