Nov. 14 at 2:57 AM
$MCK: The current market context shows a last close at
$846.24, with an RSI of 66.25 indicating that the stock is approaching overbought territory. The MA30 at
$801.9 and MA50 at
$770.31 suggest a bullish trend, as the price is above both moving averages. However, the RSI level indicates caution due to potential overextension.
Directional bias is slightly bullish, supported by the price being near the 60D high of
$867.63. The 60D low of
$673.38 provides a solid support level.
Suggested entry is at
$840, slightly below the last close to confirm strength. Set a stop loss at
$820 to manage risk. Target 1 is at
$867.63 (60D high), and Target 2 is at
$880, allowing for potential profit-taking as momentum continues.
Monitor RSI for signs of reversal and adjust positions accordingly.
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