Nov. 14 at 4:28 AM
$GTES: The current market context shows a last close at
$22.47, which is near the 60D low of
$21.18, indicating potential support. The RSI at 24.93 is in the oversold territory, suggesting a possible reversal. The 30-day moving average (MA30) is at
$24.18, while the 50-day moving average (MA50) is at
$24.63, indicating a bearish trend as the price is below both MAs.
Directional bias is bearish in the short term due to the price being below the MAs, but the oversold RSI signals a potential bounce. Suggested entry is at
$22.50, with a stop loss at
$21.00 to manage risk. Target 1 is set at
$24.00, aligning with the MA30, and Target 2 at
$24.50, near the MA50.
This plan allows for a potential recovery while managing downside risk effectively.
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