Nov. 14 at 11:21 PM
$WELL is currently trading at
$193.82, which is near its 60-day high of
$194.82, indicating potential resistance. The RSI at 72.43 suggests that the stock is overbought, which could lead to a price pullback. The 30-day moving average (MA30) at
$179.34 and the 50-day moving average (MA50) at
$175.95 indicate a strong upward trend, but the current price significantly exceeds these averages, reinforcing the overbought condition.
Market context shows a potential for a reversal or consolidation. Suggested entry could be around
$192.00 to capitalize on a possible pullback. Set a stop loss at
$189.00 to manage risk. Target 1 can be set at
$196.00, just above the 60-day high, while Target 2 could be at
$200.00, a psychological level.
Overall, the trade plan leans bearish due to overbought conditions and proximity to resistance.
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