Nov. 14 at 4:54 AM
$SLG: The market context shows a recent close at
$48.38, which is near the 60D low of
$48.22, indicating potential support. The RSI at 35.57 suggests the stock is oversold, which could lead to a reversal. However, the 30-day moving average (MA30) at
$53.24 and the 50-day moving average (MA50) at
$56.59 indicate a bearish trend, as the price is below these averages.
Directional bias leans towards a short-term rebound due to the oversold RSI, but caution is warranted given the prevailing downtrend. Suggested entry is at
$48.50, with a stop loss set at
$47.50 to manage risk.
Target 1 is
$50.00, aligning with a minor resistance level, while Target 2 is
$52.00, near the MA30. This plan allows for a potential short-term gain while respecting the overall bearish trend.
https://privateprofiteers.com