Nov. 14 at 3:44 AM
$FFIV is currently experiencing significant bearish momentum, indicated by an RSI of 10.98, which suggests oversold conditions. The last close at
$238.87 is near the 60D low of
$236.53, indicating potential support at this level. The moving averages (MA30 at 287.38 and MA50 at 302.54) are both well above the current price, reinforcing a bearish trend.
Given this context, a short position may be appropriate. Suggested entry could be at
$238.50, just below the last close, with a stop loss set at
$242.00 to limit potential losses.
Targets can be set at
$236.53 (60D low) for a conservative approach and
$230.00 for a more aggressive target, considering the potential for further downside.
Monitor the RSI for signs of reversal and be prepared to adjust the strategy based on market conditions.
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