Nov. 14 at 4:34 AM
$MAIN: The current market context shows a last close at
$58.90, indicating a position above the 30-day moving average (MA30) of
$58.27 but below the 50-day moving average (MA50) of
$60.96. The RSI at 61.14 suggests bullish momentum, but caution is warranted as it approaches overbought territory. The price is also within the 60-day high-low range, with the high at
$67.34 and the low at
$55.06, indicating potential resistance above current levels.
Directional bias is slightly bullish due to the RSI and the price being above the MA30. Suggested entry is around
$59.00, with a stop loss at
$57.50 to manage risk. Target 1 is set at
$61.00, aligning with the MA50, while Target 2 is at
$63.00, providing a favorable risk-reward ratio.
Overall, this trade plan capitalizes on current bullish momentum while respecting key moving averages and price levels.
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