Nov. 13 at 2:41 AM
$MSGS is currently trading at
$219.32, below its 30-day moving average (MA30) of
$222.38, indicating a bearish trend. The Relative Strength Index (RSI) at 41.02 suggests that the stock is nearing oversold conditions, which may lead to a potential reversal. However, the price remains above the 50-day moving average (MA50) of
$218.48, providing some support.
Given the recent high of
$235.92 and low of
$193.87 over the last 60 days, the stock has a range that could be exploited. A suggested entry point is around
$218.50, just above the MA50 for confirmation of support. A stop loss should be placed at
$215.00 to manage risk.
Target 1 can be set at
$225.00, which aligns with the MA30, while Target 2 can be at
$230.00, approaching the recent high. This trade plan allows for a balanced risk-reward scenario while considering the current market context.
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