Nov. 13 at 2:26 AM
$PRIM is currently trading at
$125.38, below its 30-day moving average (MA30) of
$136.55 and 50-day moving average (MA50) of
$131.8, indicating a bearish trend. The RSI at 44.75 suggests the stock is nearing oversold conditions but is not yet in the oversold territory, implying potential for further downside. The recent high of
$146.16 and low of
$107.45 over the past 60 days establish a range that suggests resistance around
$136 and support at
$107.45.
For a trade plan, consider entering a short position at
$125.00, with a stop loss set at
$128.00 to limit potential losses. Target 1 can be set at
$115.00, aligning with the lower end of the 60-day range, and Target 2 at
$110.00, just above the 60-day low, to capture further downside potential.
This strategy leverages the current bearish indicators while managing risk effectively.
https://privateprofiteers.com
