Nov. 15 at 12:12 AM
$FRMI is currently trading at
$18.29, below its 30-day moving average of
$25.47, indicating a bearish trend. The RSI at 38.73 suggests that the stock is nearing oversold territory, which could imply a potential reversal or at least a short-term bounce. However, with no MA50 or MA200 data available, we rely on the 60-day high of
$36.99 and low of
$16.30 to understand the price range. The current price is closer to the 60-day low, reinforcing a bearish sentiment.
Suggested entry is at
$18.50, slightly above the last close to confirm upward momentum. Place a stop at
$16.20 to manage risk, just above the 60-day low. Target 1 can be set at
$22.00, aligning with a potential resistance level, and Target 2 at
$25.00, near the 30-day MA. This plan allows for a balanced risk-reward ratio while considering current market conditions.
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