Nov. 14 at 5:08 AM
$TEX is currently trading at
$45.66, well below its 30-day moving average (MA30) of
$51.37 and 50-day moving average (MA50) of
$51.71, indicating a bearish trend. The RSI at 21.84 suggests the stock is oversold, which may signal a potential reversal or bounce. However, the proximity to the 60-day low of
$43.81 raises caution about further downside.
Directional bias leans bearish due to the significant distance from moving averages and the low RSI. A suggested entry point could be around
$45.50, with a stop loss set at
$43.50 to manage risk.
For targets, consider
$48.00 as the first target, aligning with a potential resistance level, and
$50.00 as a second target, near the MA30. Monitor the price action closely, as any signs of strength could indicate a reversal.
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