Nov. 15 at 8:33 AM
$IOT: The current market context shows a last close of
$37.81, which is below both the 30-day moving average (MA30) of
$38.77 and the 50-day moving average (MA50) of
$38.78, indicating a bearish trend. The RSI at 39.09 suggests that the stock is approaching oversold territory, which may signal a potential reversal. However, the price is still within the 60-day high-low range of
$32.55 to
$42.87, providing room for volatility.
Directional bias leans bearish due to the price being below key moving averages, but the low RSI could indicate a near-term bounce. Suggested entry is at
$37.50, with a stop loss at
$36.50 to manage risk. Target 1 is set at
$39.00, aligning with the MA30, and Target 2 at
$40.00, near the 60D high range.
Monitor for confirmation of a reversal before entry. https://privateprofiteers.com
