Nov. 14 at 3:43 AM
$W is currently trading at
$106.49, which is near the 60D high of
$114.92. The RSI is at 70.0, indicating overbought conditions, suggesting a potential pullback. The MA30 at
$91.94 and MA50 at
$89.99 are significantly lower, indicating strong upward momentum in the medium term. However, the proximity to the recent high and the high RSI suggest a cautious approach.
Directional bias is bearish in the short term due to the overbought RSI and the potential for a reversal.
Suggested entry:
$105.50 (to capitalize on a pullback).
Stop:
$108.50 (above recent highs to limit risk).
Targets:
$100.00 (first target, near MA30) and
$95.00 (second target, providing a buffer against volatility).
Monitor price action closely for confirmation of a reversal.
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