Nov. 15 at 8:35 AM
$PTC is currently trading at
$179.61, significantly below its 30-day moving average (MA30) of
$195.34 and 50-day moving average (MA50) of
$199.07, indicating a bearish trend. The RSI at 23.42 suggests that the stock is oversold, which may lead to a potential reversal or a short-term bounce. The 60-day high of
$217.64 and low of
$170.97 further highlight the volatility and range-bound nature of the stock.
Given this context, a suggested entry point could be around
$175, aiming to capitalize on a potential rebound. Set a stop loss at
$170 to manage risk effectively. For targets, consider
$185 as the first target, aligning with previous support levels, and a second target at
$195, near the MA30.
Overall, the trade plan is to take a cautious long position while monitoring for signs of reversal, given the oversold condition.
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