Nov. 13 at 2:45 AM
$GPI is currently in a bearish market context, indicated by a last close of
$380.02, which is below both the 30-day moving average (MA30) of
$418.92 and the 50-day moving average (MA50) of
$435.42. The RSI at 20.3 suggests that the stock is heavily oversold, indicating potential for a short-term rebound. However, the price is still near the 60-day low of
$378.27, which adds to the downside risk.
For a trade plan, consider entering a long position at
$382.00, slightly above the last close to confirm upward momentum. Set a stop loss at
$375.00 to limit potential losses. Target 1 can be set at
$400.00, aligning with a psychological resistance level, while Target 2 can be at
$415.00, approaching the MA30. This plan allows for a cautious approach while monitoring the oversold conditions.
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