Nov. 13 at 3:01 AM
$PRM: The current market context shows a last close of
$25.72, with an RSI of 68.73, indicating that the stock is approaching overbought territory. The 30-day moving average (MA30) at
$22.77 and the 50-day moving average (MA50) at
$22.47 suggest a strong upward trend, as both MAs are below the current price. The 60-day high of
$27.74 provides a resistance level, while the low of
$18.04 indicates significant support.
Directional bias is bullish, but caution is warranted due to the high RSI. Suggested entry is at
$25.00, allowing for a pullback. Set a stop loss at
$24.00 to manage risk. Target 1 is
$27.00, just below the 60D high, and Target 2 is
$27.50, providing a favorable risk-reward ratio.
Monitor for potential price action as it approaches the resistance level.
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