Nov. 15 at 1:14 AM
$SAIC is currently trading at
$89.61, which is near the 60D low of
$89.24, indicating a potential support level. The RSI of 34.84 suggests that the stock is oversold, which may lead to a bullish reversal. However, both the 30-day moving average (MA30) at
$95.43 and the 50-day moving average (MA50) at
$97.98 are above the current price, indicating a bearish trend in the short to medium term.
For a trade plan, consider entering a long position if the price breaks above the MA30 at
$95.43, confirming a potential reversal. Suggested entry would be at
$90.50, with a stop loss at
$88.50 to limit risk. Target 1 can be set at
$95.00 (near the MA30), and Target 2 at
$97.00 (near the MA50).
This plan capitalizes on the potential for a bounce off the support level while acknowledging the prevailing downward pressure from moving averages.
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