Nov. 15 at 1:27 AM
$PATK is currently facing a mixed market context. The last close at
$101.25 is slightly below the 30-day moving average (MA30) of
$101.45, indicating a potential bearish sentiment in the short term. The RSI at 46.2 suggests that the stock is neither overbought nor oversold, indicating indecision among traders.
Given the proximity to the 60-day low of
$95.91, there is potential for a rebound if the price holds above this level. Conversely, the 60-day high of
$116.78 sets a significant resistance level.
Suggested trade plan:
- Entry:
$100.50 (slightly below current price to capture potential rebound)
- Stop:
$95.00 (below the 60-day low to limit losses)
- Target 1:
$105.00 (near MA30)
- Target 2:
$110.00 (psychological resistance level)
This plan leverages the current price action and technical indicators for a balanced approach. Monitor closely for any changes in momentum.
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