Nov. 15 at 12:02 AM
$SNA is currently trading at
$329.98, below both the 30-day MA of
$339.34 and the 50-day MA of
$338.61, indicating a bearish trend. The RSI at 28.77 suggests that the stock is oversold, which may present a potential reversal opportunity. The recent 60-day high of
$357.41 and low of
$319.20 further highlight the stock's volatility and potential for a rebound.
For a trade plan, consider entering a long position at
$330, slightly above the last close to confirm momentum. Set a stop loss at
$319.00, just below the recent low, to manage risk effectively. Target 1 can be set at
$340, aligning with the 30-day MA, while Target 2 can be set at
$350, aiming for a retracement towards the 60-day high.
This strategy leverages the oversold RSI while respecting key moving averages and recent price action.
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