Nov. 13 at 2:56 AM
$MIAX: The market context indicates a strong upward momentum, with the last close at
$49.48 and an RSI of 81.01, suggesting overbought conditions. The price is above both the 30-day moving average (MA30) of
$43.85 and the 50-day moving average (MA50) of
$41.67, reinforcing a bullish trend. However, the RSI indicates potential for a pullback due to overextension. The recent 60-day high of
$50.34 is a critical resistance level, while the low of
$31.5 provides a solid support base.
Directional bias is bullish, but caution is warranted due to the high RSI. Suggested entry is around
$48.50 to capitalize on potential short-term gains. Set a stop at
$47.00 to limit downside risk. Target 1 is
$50.00, just below the 60D high, and Target 2 is
$51.00, should momentum continue. Monitor for signs of reversal as the price approaches these targets.
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