Nov. 13 at 2:10 AM
$KNSL: The current market context shows a last close of
$393.49, with a significantly low RSI of 22.86, indicating oversold conditions and potential for a rebound. The price is below both the 30-day MA of
$433.98 and the 50-day MA of
$433.43, suggesting bearish momentum. However, the proximity to the 60-day low of
$382.89 offers a potential support level for a bounce.
Directional bias leans bullish due to the oversold RSI, which often precedes upward corrections. Suggested entry could be around
$395, slightly above the last close to confirm upward momentum. Set a stop loss at
$380 to manage risk below the 60-day low. Target 1 can be set at
$420, aligning with the 30-day MA, and Target 2 at
$433, near the 50-day MA.
This plan seeks to capitalize on a potential reversal while maintaining a disciplined risk management strategy.
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