Nov. 13 at 2:24 AM
$INGR: The last close at
$109.31 indicates a position near the lower end of the 60-day range (
$102.31 -
$130.48). The RSI at 22.7 suggests the stock is oversold, indicating potential for a rebound. However, the moving averages (MA30 at
$116.96 and MA50 at
$119.97) indicate a bearish trend, as the price is below both MAs, reinforcing a downward bias.
For a trade plan, consider a cautious bullish stance due to the oversold condition. Suggested entry is around
$109.50, with a stop loss set at
$107.00 to manage risk. Target 1 can be set at
$113.00, aligning with the MA30, while Target 2 can be set at
$116.00, near the MA50. This plan allows for potential gains while acknowledging the prevailing bearish trend.
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