Nov. 14 at 11:24 PM
$SO is currently trading at
$90.69, below its 30-day moving average (MA30) of
$94.92 and 50-day moving average (MA50) of
$94.09, indicating a bearish trend. The RSI of 28.92 suggests that the stock is oversold, which could indicate a potential reversal or bounce. However, the proximity to the 60-day low of
$89.96 raises caution, as it could lead to further declines.
Directional bias is bearish given the position relative to MAs and the recent high-low range. A suggested entry point could be around
$89.96, the 60-day low, to capitalize on any potential reversal. A stop loss should be placed at
$88.50 to limit losses in case of further downside movement.
For targets, consider
$92.00 as the first target, aligning with psychological resistance, and
$94.00 as a second target, near the MA50. This plan allows for a risk-reward ratio that could be favorable if the stock begins to recover.
https://privateprofiteers.com
