Nov. 20 at 8:26 AM
$ELS is currently trading at
$62.12, slightly above its 30-day moving average (MA30) of
$61.86 and significantly above its 50-day moving average (MA50) of
$61.40. The RSI of 51.19 indicates that the stock is neither overbought nor oversold, suggesting a neutral to slightly bullish sentiment. The recent 60-day high of
$63.84 provides a potential resistance level, while the 60-day low of
$58.87 serves as a support level.
Given the current price action and the position relative to moving averages, a bullish bias is warranted. Suggested entry is at
$62.20 to confirm upward momentum. Set a stop loss at
$61.50 to manage risk. Target 1 can be set at
$63.50, just below the recent high, and Target 2 at
$64.00 for a more aggressive exit.
This trade plan leverages the current market context and technical indicators effectively.
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