Nov. 14 at 4:25 AM
$RHP is currently experiencing a bullish trend, closing at
$93.85. The RSI at 74.63 indicates that the stock is overbought, suggesting a potential pullback or consolidation. However, the price is above the 30-day MA of 89.62 and the 50-day MA of 92.12, indicating a strong upward momentum. The 60-day high of 102.34 presents a key resistance level, while the low of 83.82 offers support.
For a trade plan, consider entering a short position if the price shows signs of reversal around the current level or near the 60-day high. Suggested entry could be around
$93.50, with a stop loss at
$96.00 to limit potential losses. Target 1 could be set at
$90.00, targeting the 30-day MA, and Target 2 at
$87.00, near the 50-day MA.
Monitor the RSI for any signs of divergence or a drop below 70 for confirmation of a reversal.
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