Nov. 13 at 3:02 AM
$SEB: The current market context shows a last close at
$3889.99 with a high RSI of 80.3, indicating an overbought condition. The 30-day moving average (MA30) is at
$3486.41, while the 50-day moving average (MA50) is at
$3618.81, suggesting a strong upward trend but potential for a pullback. The 60-day high is
$4038.54, and the low is
$3140.01, indicating a significant trading range.
Directional bias is bearish in the short term due to the high RSI, which typically signals a correction. Suggested entry point is around
$3850, just below the last close to capture a potential pullback. Set a stop loss at
$3750 to manage risk. Target 1 is
$3700, aligning with the MA30, and Target 2 is
$3600, near the MA50.
Monitor for any changes in momentum as the price approaches these levels.
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