Nov. 13 at 1:13 AM
$SLB Trade Plan:
Market Context: The stock closed at
$37.55, near the 60-day high of
$38.08, indicating bullish sentiment. The RSI of 68.06 suggests that the stock is approaching overbought territory but is not yet in the extreme zone, allowing for potential upward movement.
Directional Bias: The stock's price is above both the 30-day MA (34.88) and the 50-day MA (34.98), indicating a strong bullish trend. The proximity to the recent high reinforces the bullish bias, while the ATR of 0.99 suggests moderate volatility.
Suggested Entry: Consider entering a long position at
$37.60, slightly above the last close to confirm momentum.
Stop: Place a stop loss at
$36.50, below recent support levels.
Targets: Set the first target at
$38.00, just below the 60D high, and the second target at
$38.50, allowing for further upside if momentum continues.
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