Nov. 13 at 2:31 AM
$MAT: The current market context shows a last close of
$19.23, with an RSI of 59.14 indicating a moderately bullish sentiment, yet not overbought. The 30-day moving average (MA30) at
$18.36 and the 50-day moving average (MA50) at
$18.04 suggest a strong upward trend, as the price is above both MAs. The 60-day high of
$19.44 is just above the current price, indicating potential resistance, while the 60-day low of
$16.56 provides a solid support level.
Directional bias is bullish due to the RSI positioning and the price being above the MAs. Suggested entry is at
$19.25, with a stop loss at
$18.80 to manage risk. Target 1 is set at
$19.44 (60D High), and Target 2 at
$19.75, allowing for potential gains while considering the recent high.
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