Nov. 14 at 4:44 AM
$ST: The current market context shows the last close at
$30.49, which is near the 60D low of
$29.03, indicating potential support. The RSI at 42.06 suggests neutral momentum, not yet oversold, which could allow for further downside or a bounce. The MA30 at
$31.39 and MA50 at
$31.29 indicate a bearish trend as the price is below both moving averages, reinforcing a downward bias.
Suggested entry is at
$30.10, just below the recent support level. Set a stop-loss at
$29.80 to limit potential losses. Target 1 is at
$31.00, slightly below the MA30, and Target 2 is at
$31.50, providing a reasonable risk-reward ratio.
Monitor the ATR of 1.28 for volatility, which may impact price movement. Overall, the plan is to capitalize on a potential bounce from the low range while being cautious of the bearish trend indicated by the moving averages.
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