Nov. 20 at 9:00 AM
$OBDC is currently trading at
$11.9, significantly below its 30-day moving average (MA30) of
$12.61 and 50-day moving average (MA50) of
$12.99, indicating a bearish trend. The RSI at 17.5 suggests that the stock is heavily oversold, which may lead to a potential rebound. However, the recent price action is constrained within a 60-day high of
$14.44 and a low of
$11.79, indicating limited upward momentum.
Trade Plan:
- Directional Bias: Bearish in the short term, but potential for a corrective rally due to oversold conditions.
- Suggested Entry: Consider entering a long position around
$11.80, close to the recent low.
- Stop Loss: Set at
$11.60 to manage risk.
- Targets: First target at
$12.00 (near MA30), second target at
$12.50 (mid-range of 60D high-low).
Monitor market conditions closely for any changes in momentum.
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