Nov. 15 at 12:57 AM
$URBN: The last close at
$63.2 indicates a bearish market context, especially with the RSI at 35.66, suggesting oversold conditions. The price is below both the 30-day MA (66.66) and the 50-day MA (68.61), reinforcing a downward trend. The 60-day high of
$79.0 and low of
$60.52 indicates a tight range, with current pricing closer to the low, which could limit upside potential.
Directional bias is bearish due to the RSI and moving averages indicating weakness.
Suggested entry:
$62.50, anticipating a potential bounce from the lows.
Stop:
$60.00 to limit losses if the price breaks below recent lows.
Targets:
$65.00 (first target) to test the 30-day MA and
$67.50 (second target) to approach the 50-day MA.
Monitor market conditions closely, as any changes could impact this strategy.
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