Nov. 13 at 1:38 AM
$SATS is currently trading at
$71.44, which is below both the 30-day moving average (MA30) of
$74.41 and the 50-day moving average (MA50) of
$74.01, indicating a bearish trend. The RSI at 47.61 suggests the asset is neither overbought nor oversold, reflecting a neutral sentiment. However, with the recent high of
$85.37 and low of
$26.52 over the last 60 days, there is potential for volatility.
Directional bias leans bearish due to the price being below key moving averages. Suggested entry could be around
$70.50 to capture a potential rebound. Set a stop loss at
$68.00 to limit downside risk. Target 1 can be set at
$74.00 (near MA50), and Target 2 at
$76.00, allowing for a recovery towards the MA30.
Overall, the strategy focuses on a cautious approach given the current market context.
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