Nov. 14 at 3:45 AM
$OHI Trade Plan:
Market Context: The last close at
$43.45 is near the 60-day high of
$44.4, indicating a potential resistance level. The RSI at 68.59 suggests that the stock is nearing overbought conditions, which could lead to a pullback.
Directional Bias: Given the RSI and proximity to the 60D high, there is a bearish bias in the short term. The MA30 (41.31) and MA50 (41.62) are significantly below the current price, indicating strong upward momentum in the longer term but caution in the near term due to the overbought RSI.
Suggested Entry: Consider entering a short position if the price breaks below
$43.00, indicating a potential reversal.
Stop: Set a stop loss at
$44.50 to limit potential losses.
Targets: First target at
$41.50, near the MA30, and a second target at
$40.00, close to the 60D low of
$39.26.
https://privateprofiteers.com
