Nov. 13 at 3:07 AM
$USLM Trade Plan:
Market Context:
$USLM is currently trading at
$119.12, significantly below its 30-day (MA30) and 50-day (MA50) moving averages of
$125.4 and
$125.92, respectively. The RSI at 27.2 indicates that the stock is oversold, suggesting potential for a price rebound. The recent 60-day high of
$137.96 and low of
$108.95 create a range that highlights the potential for volatility.
Directional Bias: Bearish in the short term due to the price being below key moving averages, but bullish potential exists given the oversold RSI condition.
Suggested Entry: Consider entering a long position at
$120.00, slightly above the last close to confirm momentum.
Stop: Set a stop-loss at
$115.00 to manage risk.
Targets: First target at
$125.00 (near MA30), second target at
$130.00 (mid-range of the 60D high-low).
This plan leverages the oversold condition and potential for a rebound while managing risk effectively.
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