Nov. 13 at 2:34 AM
$NOV: The current market context shows a last close of
$15.69, with an RSI of 74.44 indicating overbought conditions. This suggests a potential pullback may occur soon. The 30-day moving average (MA30) is at
$13.94 and the 50-day moving average (MA50) is at
$13.60, both indicating strong support levels below the current price. The 60-day high of
$16.00 is just above the last close, while the low of
$12.09 provides a solid range for potential price movement.
Directional bias leans bearish due to the high RSI, suggesting a correction may be imminent. Suggested entry point is around
$15.50, with a stop loss set at
$15.20 to limit potential losses. Target 1 is
$14.50, aligning with the MA30, and Target 2 is
$14.00, which is a psychological support level.
Monitor price action closely for confirmation of the bearish bias before entering.
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