Nov. 12 at 12:49 AM
$ET Trade Plan:
Market Context: The last close for
$ET is
$16.67, positioned between the 60D high of
$17.85 and the low of
$16.18. The current RSI of 44.23 indicates a neutral momentum, suggesting neither overbought nor oversold conditions.
Directional Bias: The price is below both the 30-day moving average (MA30) of
$16.74 and the 50-day moving average (MA50) of
$16.99, indicating a potential bearish trend. However, the proximity to the 60D low suggests a possible support level.
Suggested Entry: Consider entering a long position near
$16.18, close to the 60D low, which may act as support.
Stop: Set a stop loss at
$15.90 to limit potential losses.
Targets: First target at
$16.74 (MA30) and a second target at
$17.00, aligning with the psychological resistance level and below the MA50.
Monitor closely for any changes in momentum or market conditions.
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