Nov. 13 at 1:14 AM
$URI is currently trading at
$857.54, significantly below its 30-day moving average (MA30) of
$932.08 and 50-day moving average (MA50) of
$938.78, indicating a bearish trend. The RSI at 13.71 suggests that the stock is heavily oversold, which may lead to a potential reversal or bounce. The recent 60-day high of
$1021.47 and low of
$833.45 further highlight the volatility and range-bound nature of the stock.
Given the current metrics, a trade plan could involve entering a long position at
$860, with a stop loss set at
$833 (the 60D low) to manage risk. If the price recovers, target 1 could be set at
$900, aligning with resistance near the MA30, and target 2 at
$920, near the MA50. This strategy leverages the oversold condition while accounting for the prevailing bearish trend.
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