Nov. 14 at 4:24 AM
$VLY Trade Plan:
Market Context: The last close is at
$10.77, with the stock trading within a recent range defined by a 60-day high of
$11.35 and a low of
$9.64. The current RSI of 44.39 indicates neutral momentum, suggesting a lack of strong buying or selling pressure.
Directional Bias: The stock is trading above its 30-day moving average (MA30) of
$10.71 and slightly above the 50-day moving average (MA50) of
$10.72, indicating a potential bullish bias. However, the RSI suggests caution as it is below 50, indicating the possibility of further downside.
Suggested Entry: Consider entering a long position at
$10.80, slightly above the last close, to capture potential upward momentum.
Stop: Set a stop loss at
$10.50 to manage risk, below the recent low.
Targets: Aim for a first target at
$11.10, near the midpoint of the 60-day range, and a second target at
$11.30, approaching the 60-day high.
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