Nov. 14 at 2:54 AM
$GEV is currently trading at
$558.17, with an RSI of 40.96, indicating a neutral to slightly bearish momentum. The price is below both the 30-day moving average (MA30) of 590.35 and the 50-day moving average (MA50) of 600.95, suggesting a downtrend. The recent 60-day high of 664.69 and low of 532.72 create a range that could be pivotal for future movement.
Given the current metrics, the directional bias leans bearish, as the price is struggling below key moving averages and the RSI indicates potential for further downside.
Suggested entry point:
$550.00, just above the recent low.
Stop loss:
$540.00 to limit potential losses.
Targets:
$532.72 (60D low) as the first target, and
$520.00 as a second target, considering the overall trend and volatility indicated by the ATR of 23.87.
Monitor for any shifts in momentum that could indicate a reversal.
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