Dec. 6 at 3:08 AM
$MAC Actionable Trade Alert:
Market Context:
$MAC is currently trading at
$16.52, near the lower end of its 60-day range (high of
$18.94 and low of
$16.03). The RSI at 32.54 indicates it is in oversold territory, suggesting potential for a rebound.
Directional Bias: The current price is below both the 30-day MA of
$17.28 and the 50-day MA of
$17.35, indicating a bearish trend. However, the oversold RSI suggests a possible reversal, making this a critical level to watch.
Trade Plan:
- Suggested Entry:
$16.60 (slightly above last close to confirm upward momentum)
- Stop Loss:
$16.00 (below the 60-day low for protection)
- Target 1:
$17.00 (near the 30-day MA)
- Target 2:
$17.50 (a conservative target reflecting resistance)
Monitor price action closely as it approaches these levels to adjust strategy as necessary.
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