Nov. 14 at 3:29 AM
$FIG: The last close at
$40.56 indicates a position near the 60D low of
$40.02, suggesting potential support. The RSI at 16.67 is significantly oversold, indicating a possible reversal or bounce. However, the MA30 and MA50 are both above the current price, indicating a bearish trend in the short to medium term.
Directional bias is cautiously bullish due to the oversold RSI, but the presence of higher moving averages suggests that any upward movement may be limited.
Suggested entry:
$40.75, slightly above the last close to confirm momentum.
Stop:
$39.75, just below the recent low to manage risk.
Targets: First target at
$44.00 (near the 60D high), and a second target at
$46.50 (near the MA30).
Monitor closely for any signs of reversal or continued weakness.
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