Nov. 14 at 11:40 PM
$RDDT trade plan:
Market Context: The last close was
$193.31, indicating a position within the 60-day high of
$282.95 and low of
$173.56. The current RSI of 39.94 suggests that the stock is nearing oversold territory, which may indicate a potential reversal.
Directional Bias: The price is below both the 30-day MA (201.62) and 50-day MA (218.22), indicating a bearish trend. However, the RSI nearing 40 may signal a possible upward correction as it approaches oversold conditions.
Suggested Entry: Consider entering a long position around
$193.00, anticipating a reversal.
Stop: Set a stop-loss at
$173.00, just above the 60-day low to manage risk.
Targets: Aim for a first target at
$201.00 (near the 30-day MA) and a second target at
$218.00 (near the 50-day MA), allowing for potential gains as the price approaches these resistance levels.
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