Nov. 13 at 3:05 AM
$GNW is currently trading at
$8.49, which is below both the 30-day moving average (MA30) of
$8.61 and the 50-day moving average (MA50) of
$8.68. The RSI at 53.33 indicates neutral momentum, suggesting indecision in the market. The price is also within the 60-day high of
$9.15 and low of
$8.26, indicating a range-bound scenario.
Given the current price is closer to the 60D low, a bullish bias may be considered if the price breaks above the MA30. Suggested entry is at
$8.61 (breakout of MA30). Set a stop loss at
$8.26 (60D low) to manage risk. Target 1 can be set at
$8.85 (near the 60D high), and Target 2 at
$9.00 for a more aggressive exit.
Monitor for potential reversal signals if the price approaches the stop loss. Overall, the trade plan leans towards a cautious bullish stance, contingent on breaking key moving averages.
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