Nov. 14 at 3:09 AM
$EW is currently trading at
$86.11, showing strong momentum with an RSI of 82.31, indicating overbought conditions. The stock is above its 30-day moving average (MA30) of 79.03 and 50-day moving average (MA50) of 78.07, suggesting a bullish trend. However, the high RSI signals potential for a pullback.
Market context shows the 60-day high at
$87.21, which could act as a resistance level, while the 60-day low is at
$72.3, providing a significant range. Given the current price proximity to the high, a cautious approach is warranted.
Suggested entry could be around
$85.50 to capitalize on any potential pullback. Set a stop-loss at
$83.50 to manage risk. Target 1 can be set at
$87.00, just below the 60-day high, and Target 2 at
$88.00 for a more aggressive exit if momentum continues.
Monitor for any signs of reversal or weakening momentum before executing.
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