Nov. 16 at 12:03 AM
$MWA is currently trading at
$23.16, significantly below its 30-day moving average (MA30) of
$25.14 and 50-day moving average (MA50) of
$25.24, indicating a bearish trend. The RSI of 18.44 suggests that the stock is oversold, which may lead to a potential reversal or bounce. The recent 60-day high of
$27.42 and low of
$22.91 shows a range that could provide a trading opportunity.
Directional bias leans bearish due to the price being below key moving averages, but the extremely low RSI indicates a possible short-term recovery.
Suggested entry:
$23.00 (below current price to capitalize on potential bounce).
Stop loss:
$22.80 (to limit downside risk).
Target 1:
$24.00 (near the MA30).
Target 2:
$25.00 (near the MA50).
Monitor the price action closely for any signs of reversal.
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