Nov. 14 at 3:10 AM
$ROP is currently trading at
$447.75, below its 30-day moving average (MA30) of
$479.02 and 50-day moving average (MA50) of
$490.3, indicating a bearish market context. The RSI at 29.94 suggests that the stock is oversold, which could indicate a potential reversal or bounce. The price is also near the 60-day low of
$435.42, providing a support level to watch.
Directional bias leans bearish due to the position relative to MAs, but the oversold RSI may offer a short-term bullish opportunity.
Suggested entry:
$450, slightly above the last close to confirm momentum. Stop loss:
$435, just below the 60D low to limit risk.
Targets: First target at
$470, aligning with the MA30, and a second target at
$485, near the MA50.
This plan allows for a potential rebound while managing risk effectively.
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