Nov. 14 at 4:27 AM
$S: The current market context shows a last close of
$16.51, which is near the 60D low of
$16.05, indicating a potential support level. The RSI at 38.65 suggests that the stock is approaching oversold territory, which may signal a reversal opportunity. The 30-day moving average (MA30) is at
$17.26 and the 50-day moving average (MA50) is at
$17.66, both indicating a bearish trend as the price is below these averages.
Directional bias leans towards a potential short-term bounce due to the low RSI and proximity to the 60D low. Suggested entry is at
$16.60, slightly above the last close to confirm buying interest. Set a stop loss at
$16.05 to manage risk. Target 1 is at
$17.00, aligning with the MA30, and Target 2 is at
$17.50, just below the MA50. This plan allows for a risk-reward ratio that capitalizes on potential upward movement while managing downside risk effectively.
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