Nov. 15 at 9:33 AM
$OLED is currently trading at
$116.83, significantly below its 30-day moving average (MA30) of
$140.44 and 50-day moving average (MA50) of
$141.14, indicating a bearish market context. The RSI at 15.37 suggests that the stock is oversold, which may indicate a potential reversal or bounce in the near term. However, the proximity to the 60-day low of
$113.8 raises caution.
Directional bias remains bearish due to the significant distance from moving averages and the overall trend. Suggested entry could be around
$115, with a stop loss set at
$113 to limit potential losses. Target 1 could be set at
$125, aligning with a potential retracement, and Target 2 at
$130, close to the MA30.
Monitor price action closely for confirmation of a reversal before entering.
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