Nov. 13 at 2:27 AM
$ONTO: The last close at
$133.44 indicates a position above the 30-day moving average (MA30) of
$134.63, suggesting a potential bullish sentiment. The RSI at 57.22 indicates that the stock is neither overbought nor oversold, allowing for room to move upwards. The 50-day moving average (MA50) at
$127.85 supports the bullish bias, as the stock is trading significantly above this level.
Given the 60-day high of
$150.21 and low of
$101.0, the current price is closer to the high, indicating potential resistance. Suggested entry is at
$134.50, just above the MA30, to capture upward momentum. A stop loss should be set at
$126.50, below the MA50, to manage risk.
Targets can be set at
$145.00 (near the previous resistance level) and
$150.00 (60D high), allowing for a favorable risk-reward ratio.
Stay vigilant on market conditions and adjust as necessary.
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