Nov. 13 at 1:41 AM
$J: The current market context shows a last close at
$154.71, with an RSI of 41.8, indicating a neutral to slightly bearish momentum. The price is below the 30-day moving average (MA30) of
$156.56 and above the 50-day moving average (MA50) of
$152.71, suggesting mixed signals. The 60-day high of
$168.44 and low of
$142.9 further highlight a range-bound market.
Directional bias leans bearish due to the RSI being below 50 and the price trading under the MA30. Suggested entry is at
$154.00, anticipating a potential breakdown. Set a stop loss at
$157.00 to manage risk.
Target 1 is
$150.00, aligning with support levels, and Target 2 is
$145.00, near the 60D low. Monitor the ATR of 3.55 for volatility considerations.
Overall, the trade plan focuses on a bearish outlook with defined entry, stop, and targets.
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