Nov. 13 at 1:59 AM
$SJM: The current market context shows a last close of
$108.51, indicating a bullish sentiment as the price is above the 30-day moving average (MA30) of
$104.96 and the 50-day moving average (MA50) of
$106.47. The RSI at 61.11 suggests the stock is approaching overbought territory but is not yet overextended, allowing for potential upward movement. The 60-day high of
$114.74 provides a resistance level, while the low of
$100.25 establishes a solid support base.
Directional bias is bullish due to the price being above key moving averages and the RSI indicating strength. Suggested entry is at
$108.51, with a stop loss set at
$106.00 to manage risk. Target 1 is
$112.00, just below the 60D high, and Target 2 is
$114.00, aiming for a breakout. This plan leverages current momentum while maintaining a disciplined risk management approach.
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