Nov. 13 at 1:08 AM
$SNPS is currently trading at
$395.64, significantly below its 30-day moving average (MA30) of
$447.73 and 50-day moving average (MA50) of
$467.16, indicating a bearish trend. The RSI at 25.0 suggests that the stock is oversold, which could lead to a potential rebound. However, the recent 60-day high of
$624.82 and low of
$380.84 highlight a volatile range, with the current price nearing the lower end.
Market context shows weakness, but the oversold RSI may provide a short-term buying opportunity. Suggested entry is at
$400, with a stop loss set at
$380 to manage risk. Target 1 is set at
$420, aligning with a minor resistance level, while Target 2 is at
$450, near the MA30. This plan aims to capitalize on a potential bounce while acknowledging the overall bearish sentiment.
For more insights, visit https://privateprofiteers.com.
https://privateprofiteers.com
