Nov. 13 at 2:48 AM
$NJR is currently trading at
$46.14, showing a neutral RSI of 49.82, indicating no immediate overbought or oversold conditions. The price is above the 30-day moving average (MA30) of
$45.85 but slightly below the 50-day moving average (MA50) of
$46.32, suggesting a potential short-term bullish trend but with resistance overhead.
The recent 60-day high of
$48.3 indicates a level of resistance, while the low of
$43.46 provides a solid support base. Given this context, a directional bias leans slightly bullish, with the potential for upward movement if the price can break above the MA50.
Suggested entry is at
$46.50, with a stop loss placed at
$45.50 to manage risk. Target 1 is set at
$48.00, close to the 60D high, and Target 2 at
$48.50 for an extended move.
Monitor price action closely, as a break above
$46.32 could strengthen the bullish case.
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