Nov. 15 at 12:53 AM
$FBIN is currently trading at
$48.01, below both the 30-day moving average (MA30) of
$50.09 and the 50-day moving average (MA50) of
$52.44, indicating a bearish market context. The RSI at 35.03 suggests that the stock is nearing oversold conditions, which may lead to a potential reversal or bounce. However, the price is close to the 60-day low of
$47.55, reinforcing the bearish sentiment.
For a trade plan, consider entering a long position if the price breaks above
$48.50, which could indicate a shift in momentum. Set a stop loss at
$47.25 to manage risk. Target 1 can be set at
$50.00, aligning with the MA30, while Target 2 can be set at
$52.00, approaching the MA50.
Overall, the bias remains cautious due to the prevailing downtrend, but a potential reversal could provide a trading opportunity.
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