Nov. 15 at 8:56 AM
$SNX is currently trading at
$150.68, which is below both the 30-day moving average (MA30) of
$154.12 and the 50-day moving average (MA50) of
$154.5, indicating a bearish trend. The RSI at 42.26 suggests that the asset is nearing oversold conditions but is not yet in that territory, which may imply potential for a short-term recovery. The recent high of
$167.76 and low of
$144.39 over the last 60 days reflect a range that could provide trading opportunities.
For a trade plan, consider entering a long position around
$150.00, with a stop loss set at
$144.00 to manage risk. Target 1 could be set at
$155.00, near the MA30, while Target 2 could be at
$160.00, reflecting a potential rebound towards the higher end of the recent range. Monitor market conditions closely, as the current bearish trend may persist.
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