Nov. 14 at 11:43 PM
$FI is currently experiencing a significant bearish trend, as indicated by an RSI of 7.99, suggesting it is heavily oversold. The last close at
$64.53 is well below the 30-day moving average (MA30) of 100.58 and the 50-day moving average (MA50) of 113.02, reinforcing the downward momentum. The price is also near the 60-day low of 60.95, indicating a potential support level.
Directional bias is bearish due to the extreme RSI and the price's position relative to the moving averages.
Suggested entry could be around
$64.00, with a stop loss set at
$60.50 to manage risk. Potential targets include
$70.00, which aligns with a minor resistance level, and
$75.00, which is closer to the MA30.
Overall, the strategy should focus on short-term recovery due to the oversold condition, while remaining cautious of the prevailing bearish trend.
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