Nov. 15 at 12:53 AM
$LEGN is currently in a bearish market context, indicated by its last close of
$30.29, which is below both the 30-day moving average (MA30) of
$32.08 and the 50-day moving average (MA50) of
$32.64. The RSI at 31.21 suggests that the stock is oversold, indicating a potential for a rebound, but the overall trend remains downward. The recent high of
$36.8 and low of
$29.92 creates a range that suggests volatility; however, the stock is closer to the lower end of this range.
Suggested trade plan:
- Entry:
$30.50 (slightly above the last close to confirm upward momentum)
- Stop:
$29.80 (below the recent low to limit risk)
- Target 1:
$32.00 (near the MA30)
- Target 2:
$32.50 (just below the MA50)
This plan allows for a cautious approach while acknowledging potential upward movement.
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