Nov. 13 at 2:09 AM
$SANM is currently trading at
$169.17, showing strong momentum with an RSI of 78.84, indicating overbought conditions. The price is significantly above the 30-day MA of 138.35 and the 50-day MA of 129.94, suggesting a bullish trend. However, the high RSI may signal a potential pullback, especially as the price approaches the 60-day high of
$178.39.
Directional bias leans bullish, but caution is warranted due to overbought conditions. Suggested entry could be around
$165.00, allowing for a slight pullback. A stop loss should be set at
$160.00 to manage risk.
For targets, consider
$175.00 as the first target, aligning with the psychological level below the recent high. A second target could be set at
$178.00, just below the 60-day high, to capture potential upside while managing risk.
Monitor market conditions closely, as volatility indicated by the ATR of 8.5 could lead to rapid price movements.
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