Nov. 13 at 1:36 AM
$PPG is currently trading at
$96.09, below its 30-day moving average (MA30) of
$100.33 and 50-day moving average (MA50) of
$103.46, indicating bearish momentum. The RSI at 33.5 suggests the stock is nearing oversold territory, which may lead to a potential reversal. However, with the price positioned between the 60-day high of
$115.5 and low of
$93.74, there is significant resistance above and support below.
Directional bias leans bearish due to the price being below key moving averages. A suggested entry point could be around
$94, just above the 60D low, to capitalize on a potential bounce. Set a stop loss at
$92 to limit downside risk. For targets, consider
$100 (near MA30) for the first target and
$103 (near MA50) for the second target, allowing for a risk-reward ratio that aligns with the current ATR of 2.32.
Monitor market conditions closely, as volatility may impact execution.
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