Nov. 15 at 12:34 AM
$OC is currently trading at
$101.83, significantly below its 30-day moving average (MA30) of
$121.61 and 50-day moving average (MA50) of
$131.5, indicating a bearish trend. The RSI at 8.74 suggests that the stock is extremely oversold, which could lead to a potential price rebound. However, with the recent 60-day high at
$159.42 and low at
$100.5, the stock is nearing its lower range.
Given the current metrics, a cautious approach is warranted. Suggested entry could be around
$102, with a stop loss set at
$100 to limit potential losses. Target 1 could be set at
$110, where there may be resistance, and Target 2 at
$115, aligning closer to the MA30.
This trade plan capitalizes on the potential for a short-term rebound while managing risk effectively.
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