Nov. 14 at 4:47 AM
$FELE is currently trading at
$93.67, below both the 30-day moving average (MA30) of
$95.49 and the 50-day moving average (MA50) of
$95.40, indicating a bearish trend. The RSI at 29.09 suggests that the stock is oversold, which could lead to a potential reversal or bounce. However, the proximity to the 60-day low of
$90.00 raises caution, as it indicates a strong support level.
Directional bias is bearish in the short term due to the position below key moving averages, but the oversold RSI may provide a buying opportunity if a reversal occurs.
Suggested entry:
$92.50 (near the 60D low for a potential bounce). Stop loss:
$89.50 (below the 60D low to limit risk).
Targets: First target at
$95.00 (near MA30) and second target at
$97.50 (previous resistance level).
Monitor price action closely for confirmation of a reversal.
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