Nov. 13 at 2:29 AM
$TRNO: The last close at
$61.85 indicates a position near the 60D high of
$62.87, suggesting a potential resistance level. The RSI at 53.58 is neutral, indicating no immediate overbought or oversold conditions, which allows for flexibility in trade direction. The MA30 at
$59.18 and MA50 at
$58.70 provide support, indicating a bullish sentiment as the price is above both moving averages.
Directional bias leans bullish, given the proximity to the 60D high and the supportive MAs. Suggested entry at
$61.50, just below the last close to confirm upward momentum. Set a stop at
$60.00 to limit risk. Target 1 at
$63.00, just above the 60D high, and Target 2 at
$64.50, allowing for further upside potential.
Overall, the trade plan capitalizes on the current market context, leveraging support levels and the potential breakout above recent highs.
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