Nov. 20 at 9:18 AM
$REZI is currently trading at
$33.01, significantly below its 30-day moving average (MA30) of
$39.71 and 50-day moving average (MA50) of
$39.93, indicating a bearish trend. The RSI of 18.56 suggests the stock is oversold, which could lead to a potential rebound. However, the recent price action remains weak, with the 60-day high at
$45.29 and a low at
$29.21, reflecting a broad range.
For a trade plan, consider entering a long position at
$33.50, slightly above the last close to confirm upward momentum. Set a stop loss at
$31.50 to limit potential losses. Target 1 can be set at
$37.00, approaching the MA30, while Target 2 can be positioned at
$39.00, near the MA50. This plan leverages the oversold condition while acknowledging the prevailing bearish trend.
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