Nov. 15 at 12:45 AM
$R: The current market context shows a last close at
$170.49, with an RSI of 56.87 indicating neutral momentum, slightly leaning towards bullish. The price is below both the 30-day moving average (MA30) at
$174.99 and the 50-day moving average (MA50) at
$179.89, suggesting potential resistance ahead. The 60-day high of
$195.48 and low of
$157.67 create a range that indicates a possible rebound from the lower end.
Directional bias is cautiously bullish due to the RSI being above 50, but the proximity to MA30 and MA50 suggests careful entry. Suggested entry is at
$172, with a stop loss at
$167 to manage risk. Target 1 is set at
$178, near MA50, and Target 2 at
$185, approaching the 60D high.
Monitor price action closely as it approaches the moving averages for potential reversal signals.
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