Nov. 20 at 9:50 AM
$TNET: The last close at
$55.7 indicates a position near the 60D low of
$54.33, suggesting a potential reversal opportunity. The RSI at 32.44 indicates that the stock is oversold, which may support a bullish bias in the near term. However, the MA30 at
$60.33 and MA50 at
$63.32 are above the current price, indicating resistance levels that may hinder upward momentum.
Directional bias: Bullish, due to oversold RSI and proximity to the 60D low.
Suggested entry:
$56.00, slightly above the last close to confirm upward movement.
Stop:
$54.00, below the recent low to limit potential losses.
Targets: First target at
$60.00, aligning with MA30 resistance. Second target at
$62.00, near MA50, for a more aggressive approach.
Monitor price action closely, as the proximity to support and resistance levels could lead to volatility.
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