Nov. 14 at 11:24 PM
Market Context:
$GD is currently trading at
$344.25, which is above its 30-day moving average (MA30) of
$342.41 and 50-day moving average (MA50) of
$336.9, indicating a potential bullish sentiment. However, the Relative Strength Index (RSI) at 38.15 suggests that the stock is nearing oversold territory, which could lead to a reversal.
Directional Bias: The current price is closer to the 60-day low of
$317.61 than the high of
$360.5, indicating a bearish trend in the short term. However, the proximity to the MAs and low RSI suggests a potential for upward correction.
Suggested Entry: Consider entering a long position at
$345.00, slightly above the last close to confirm upward momentum.
Stop: Set a stop-loss at
$338.00, just below the MA50 for risk management.
Targets: Aim for a first target at
$355.00, near the midpoint of the 60-day range, and a second target at
$360.00, approaching the 60-day high.
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