Nov. 15 at 10:42 PM
$GWRE is currently trading at
$222.51, significantly below its 30-day moving average (MA30) of
$235.24 and 50-day moving average (MA50) of
$238.23, indicating a bearish trend. The RSI at 19.99 suggests that the stock is oversold, which could lead to a potential reversal or short-term bounce. However, the recent price action remains weak, as it is near the 60-day low of
$210.17.
For a trade plan, consider entering a long position if the price shows signs of recovery above
$225. Suggested entry is at
$225, with a stop loss set at
$210 to limit risk. Target 1 can be set at
$235 (near MA30), and Target 2 at
$240 (a psychological resistance level). Monitor the ATR of 6.9 to adjust position size accordingly.
Overall, the market context suggests caution, but a potential bounce could offer trading opportunities.
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