Nov. 14 at 3:37 AM
$LII: The current market context shows a recent close at
$476.66, which is near the 60D low of
$466.88, indicating potential support. The RSI at 36.1 suggests the stock is nearing oversold conditions, which may lead to a reversal. The MA30 and MA50 are significantly higher at
$511.27 and
$524.27 respectively, indicating a bearish trend in the short to medium term.
Directional bias leans towards a potential short-term bounce given the low RSI and proximity to the 60D low. Suggested entry is at
$480, slightly above the last close to confirm upward momentum. Set a stop loss at
$470 to manage risk.
Targets are set at
$500 (previous resistance) and
$510 (near MA30), allowing for a favorable risk-reward ratio. Monitor the ATR of 15.78 for volatility considerations.
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