Nov. 13 at 2:21 AM
$MOH is currently trading at
$143.52, significantly below its 30-day moving average (MA30) of
$176.27 and 50-day moving average (MA50) of
$178.42, indicating a bearish trend in the short to medium term. The RSI at 19.96 suggests that the stock is heavily oversold, which may lead to a potential reversal or corrective bounce. The recent 60-day high of
$206.89 and low of
$139.29 provides a range for potential price movement.
Suggested trade plan:
- Entry: Consider entering a long position around
$143.50.
- Stop: Set a stop loss at
$139.00 to limit downside risk.
- Targets: Aim for a first target at
$155.00, which is near the 60D low, and a second target at
$165.00, approaching the MA30.
This plan leverages the oversold condition indicated by the RSI while acknowledging the prevailing bearish trend suggested by the moving averages.
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