Nov. 13 at 3:18 AM
$SHOO: The last close at
$38.87 indicates a strong position near the 60D high of
$39.39, suggesting bullish momentum. The RSI of 69.27 indicates that the stock is nearing overbought territory, which could lead to a pullback. However, the MA30 at
$34.99 and MA50 at
$33.73 show a bullish trend, as the price is above both moving averages, indicating strong support levels.
Directional bias is moderately bullish but cautious due to the high RSI. Suggested entry is around
$38.50, just below the last close, to capture potential upward movement. Set a stop loss at
$37.00 to manage risk. Target 1 is
$40.00, just above the 60D high, while Target 2 is
$41.00, allowing for further upside if momentum continues.
Monitor the RSI for signs of reversal and adjust targets accordingly.
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