Nov. 13 at 2:46 AM
$ITRI: The current market context shows a significant downward trend, with the last close at
$103.44, well below both the 30-day moving average (MA30) of
$122.73 and the 50-day moving average (MA50) of
$122.14. The RSI at 27.34 indicates that the stock is oversold, suggesting a potential for a reversal or bounce. However, the proximity to the 60-day low of
$99.5 indicates strong support, while the 60-day high of
$142.0 provides a clear resistance level.
Directional bias leans bearish in the short term due to the price being below both MAs, but the oversold RSI may lead to a corrective rally. Suggested entry could be around
$102.50, with a stop loss at
$99.00 to limit potential losses. Target 1 can be set at
$110.00, aligning with a retracement towards the MA30, while Target 2 can be positioned at
$115.00, near the MA50.
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