Nov. 14 at 4:10 AM
$MOD is currently trading at
$128.73, significantly below its 30-day moving average (MA30) of
$152.87 and 50-day moving average (MA50) of
$150.21, indicating a bearish trend. The RSI at 25.9 suggests that the stock is oversold, which could signal a potential reversal or a short-term bounce. However, the recent price action is still weak, as it is near the 60-day low of
$125.4.
For a trade plan, consider entering a long position if
$MOD breaks above the resistance level at
$130, with a stop loss set at
$125 to manage risk. Target 1 could be set at the 60-day high of
$166.94, while Target 2 could be the MA30 at
$152.87. This plan allows for a favorable risk-reward ratio, capitalizing on a potential reversal while maintaining strict risk management.
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