Nov. 14 at 3:14 AM
$VMC is currently trading at
$284.09, with an RSI of 39.7, indicating it is nearing oversold territory but not yet there. The stock is below its 30-day moving average (MA30) of
$295.42 and 50-day moving average (MA50) of
$296.29, suggesting bearish momentum. The recent high of
$311.74 and low of
$278.93 defines a range that could provide trading opportunities.
Directional bias is bearish due to the price being below both MAs and the RSI indicating potential weakness. However, if the price approaches the 60D low of
$278.93, it may present a buying opportunity for a short-term rebound.
Suggested entry:
$279.00 (near the 60D low). Stop loss:
$275.00 (below recent support). Target 1:
$290.00 (near MA30), Target 2:
$295.00 (near MA50).
Monitor the ATR of 7.84 for volatility and adjust targets accordingly.
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