Nov. 13 at 2:38 AM
$SEE: The last close at
$37.33 indicates a strong position, but the RSI at 73.94 suggests it is overbought, indicating potential for a pullback. The MA30 at
$35.08 and MA50 at
$34.49 provide support levels, reinforcing a bullish trend in the short term. The 60D high of
$37.59 is just above the current price, which may act as a resistance level. Given the high RSI and proximity to the 60D high, a cautious approach is warranted.
Suggested entry:
$36.80, slightly below the current price to capture potential upward momentum. Stop loss:
$35.00, below the MA30 for protection against a deeper pullback. Targets:
$38.00 (just above the 60D high) and
$39.00, allowing for profit-taking if upward momentum continues.
Overall, the trade plan is bullish but requires careful monitoring due to the overbought RSI condition.
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