Nov. 14 at 4:05 AM
$UWMC: The current market context shows a last close of
$5.14, with the RSI at 32.69, indicating that the stock is in oversold territory. The 30-day moving average (MA30) is at
$5.53, and the 50-day moving average (MA50) is at
$5.90, suggesting bearish momentum as the price is below these averages. The 60-day high of
$7.14 and low of
$4.99 indicates a trading range that could provide support and resistance levels.
Directional bias is bearish due to the RSI and the price being below both MAs. However, a potential reversal could occur if the price approaches the 60D low of
$4.99.
Suggested entry could be around
$5.00, with a stop loss at
$4.85 to limit risk. Target 1 could be set at
$5.40 (near MA30), and Target 2 at
$5.80 (near MA50). Monitor for any changes in momentum or news that could impact price action.
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