Nov. 13 at 2:39 AM
$THO is currently showing bearish momentum with a last close at
$101.84 and an RSI of 35.8, indicating that it is approaching oversold conditions but is still below the neutral 40 level. The price is also below both the 30-day MA of
$104.87 and the 50-day MA of
$105.54, reinforcing a bearish trend. The recent 60-day high of
$114.49 and low of
$98.58 suggest a range-bound market, with current price closer to the low.
For a trade plan, consider entering a short position at
$101.50, with a stop loss at
$104.00 to manage risk. Target 1 can be set at
$99.00, just above the 60D low, and Target 2 at
$97.50, allowing for a potential further decline. This plan aligns with the current bearish indicators and the proximity to the lower end of the recent trading range.
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