Nov. 13 at 1:56 AM
$MTSI is currently trading at
$169.98, showing a strong upward momentum as indicated by an RSI of 73.62, suggesting it is overbought. The price is significantly above the 30-day moving average (MA30) of 142.49 and the 50-day moving average (MA50) of 137.17, reinforcing a bullish trend. However, the high of
$179.38 within the last 60 days presents a resistance level that could limit further upside.
Market context indicates potential profit-taking due to the overbought RSI. A prudent approach would be to consider a short position. Suggested entry is around
$169.00, with a stop loss set at
$173.00 to limit potential losses. Target 1 could be set at
$160.00, aligning with a retracement towards the MA30, while Target 2 could be
$155.00, near the lower end of the recent trading range.
Monitor price action closely, as a break above
$173.00 could invalidate this plan.
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