Dec. 6 at 3:00 AM
$OS: Current market context shows a potential reversal opportunity given the RSI at 29.79, indicating oversold conditions. The last close at
$18.73 is significantly below the 30-day moving average (MA30) of
$20.12 and the 50-day moving average (MA50) of
$19.32, suggesting a bearish trend. However, with the 60-day high at
$23.93 and low at
$16.51, there is room for a bullish bounce.
Directional bias is cautiously optimistic due to the oversold RSI, which often precedes upward corrections. Suggested entry is at
$18.73, with a stop loss set at
$17.50 to limit downside risk.
Take profit targets are as follows:
1. TP1:
$19.00 (1.44% gain)
2. TP2:
$20.00 (6.77% gain)
3. TP3:
$21.00 (12.73% gain)
To achieve at least a 17% ROI, consider scaling positions or leveraging options for TP3. Monitor for price action around the MA30 and MA50 for confirmation.
https://privateprofiteers.com
