Nov. 14 at 4:02 AM
$TECH: The current market context shows a last close at
$60.75, with an RSI of 34.23 indicating oversold conditions. The 30-day moving average (MA30) is at
$61.24, suggesting a bearish trend as the price is below this level. The 50-day moving average (MA50) at
$58.12 further supports a downward bias, as the price is also above this MA, indicating potential resistance.
Given the 60-day high of
$66.96 and low of
$50.13, the price is currently closer to the lower end of this range, which could provide a bounce opportunity.
Suggested entry point:
$59.00 (slightly above the current price to confirm momentum).
Stop loss:
$57.50 (to limit losses if the price continues to decline).
Targets:
$62.00 (first target, near the MA30) and
$64.00 (second target, approaching the 60D high).
This plan leverages the oversold RSI and the proximity to the low of the range for potential upside.
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