Nov. 13 at 2:22 AM
$NFG: The current market context shows a last close at
$80.08, below both the 30-day MA of
$83.54 and the 50-day MA of
$85.55, indicating a bearish trend. The RSI at 38.63 suggests that the asset is approaching oversold territory, which could indicate a potential reversal or bounce. However, the price is still above the 60-day low of
$77.22, providing a support level.
Directional bias leans bearish due to the price being below key moving averages. Suggested entry could be around
$79.50, with a stop loss set at
$77.00 to limit potential losses. For targets, consider
$82.00 as the first target, aligning with the 30-day MA, and a secondary target at
$84.00, near the 50-day MA.
Monitor the ATR of 1.71 for volatility considerations. Adjust strategy as necessary based on market movements.
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