Nov. 15 at 1:13 AM
$NMRK is currently trading at
$16.53, which is near the 60D low of
$16.47, indicating potential support. The RSI at 18.68 suggests the stock is oversold, typically a bullish signal. However, the moving averages indicate a bearish trend, with the MA30 at
$17.93 and MA50 at
$18.33, implying resistance levels above the current price.
Given the market context, the directional bias is cautiously bullish due to the oversold RSI, but the prevailing trend remains bearish based on MAs.
Suggested entry is at
$16.60, slightly above the last close to confirm support. Set a stop loss at
$16.40 to manage risk. Target 1 is at
$17.00, where the price may encounter resistance, and Target 2 is at
$17.50, aligning with the MA30.
Monitor price action closely; if it breaks below
$16.40, reassess the position.
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