Nov. 14 at 2:52 AM
$NOW: The current market context shows a last close at
$849.69, which is near the 60D low of
$840.55, indicating potential support. The RSI of 27.7 suggests the stock is oversold, which may lead to a reversal or a short-term bounce. However, the MA30 at
$904.76 and MA50 at
$916.12 indicate a bearish trend, as the price is significantly below these moving averages.
Directional bias is cautiously bullish due to the oversold RSI, but the overall trend remains bearish given the MAs. Suggested entry could be at
$855, slightly above the current close, to capture a potential bounce. Set a stop loss at
$840, just below the 60D low, to limit downside risk.
Targets could be set at
$890 (near the MA30) and
$910 (near the MA50), allowing for a reasonable risk-reward ratio. Monitor for any changes in momentum or volume to adjust the strategy accordingly.
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