Nov. 13 at 3:05 AM
$MLYS: The current market context shows a last close of
$47.11, near the 60D high of
$47.42, indicating bullish momentum. The RSI at 62.73 suggests the stock is approaching overbought territory, but it still has room for further upside before a potential reversal. The MA30 at
$40.92 and MA50 at
$39.46 indicate a strong upward trend, as the price is significantly above these moving averages.
Directional bias is bullish given the proximity to the 60D high and the positive trend indicated by the moving averages. Suggested entry is at
$47.15, just above the last close to capture potential upward movement. A stop loss can be set at
$44.24, below the MA30, to manage risk.
Targets: first target at
$48.50, just above the 60D high, and a second target at
$50.00, which is a psychological level. This plan leverages current bullish momentum while managing risk effectively.
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