Nov. 14 at 11:42 PM
$WEC: The stock is currently trading at
$110.97, which is near the 60D low of
$105.5, indicating potential support. The RSI at 27.29 suggests that the stock is oversold, which may lead to a reversal or bounce. The MA30 at 114.23 and MA50 at 112.9 are both above the current price, indicating a bearish trend in the short to medium term. However, the proximity to the 60D low and oversold RSI presents a potential buying opportunity.
Suggested entry:
$110.50, slightly below the last close to confirm support. Stop loss:
$105.00, just below the 60D low to limit risk. Targets: First target at
$112.00, aligning with the MA50, and second target at
$114.00, near the MA30.
Overall, while the trend is currently bearish, the oversold condition and support levels provide a basis for a cautious bullish position.
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