Nov. 21 at 4:31 AM
$FLY is currently trading at
$16.92, near its 60-day low of
$16.9, indicating a potential support level. The RSI of 29.61 suggests that the stock is oversold, which may lead to a reversal or bounce in price. However, the moving averages (MA30 at 23.95 and MA50 at 29.1) indicate a bearish trend, as the current price is significantly below both averages.
Directional bias leans towards a cautious bullish outlook due to the oversold RSI, but the overall trend remains negative. A suggested entry point could be around
$17.00, with a stop loss set at
$16.70 to manage risk.
Targets can be set at
$20.00 (first target) and
$22.00 (second target), aligning with resistance levels near the MA30. Monitor the ATR of 2.24 for volatility considerations.
Overall, this trade plan aims to capitalize on a potential short-term recovery while acknowledging the prevailing bearish trend.
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