Nov. 13 at 1:33 AM
$OWL is currently trading at
$15.07, which is near the lower end of its 60-day range (14.52-19.35). The RSI of 30.76 indicates that the stock is oversold, suggesting potential upward momentum. However, the stock is below both the 30-day moving average (MA30) of 16.16 and the 50-day moving average (MA50) of 16.96, indicating a bearish trend in the short to medium term.
Given the current market context, a cautious bullish bias may be appropriate if the price can reclaim the MA30. Suggested entry is at
$15.30, just above the recent close, allowing for a potential reversal. A stop loss can be placed at
$14.50 to manage risk.
Target 1 is set at
$16.00, aligning with the MA30, while Target 2 is at
$16.50, approaching the MA50. This trade plan capitalizes on potential recovery while managing downside risk effectively.
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