Nov. 13 at 2:42 AM
$WEX: The current market context shows a last close at
$147.83, which is near the 60D low of
$142.19, indicating potential support. The RSI at 38.72 suggests the stock is approaching oversold territory, which could lead to a reversal. However, the stock is below both the 30-day moving average (MA30) of
$153.27 and the 50-day moving average (MA50) of
$158.69, indicating a bearish trend in the short to medium term.
Directional bias is slightly bullish due to the oversold RSI, but caution is warranted given the proximity to the 60D low. Suggested entry is at
$148.50, with a stop loss at
$145.00 to manage risk. Target 1 is set at
$153.00, aligning with the MA30, and Target 2 at
$158.00, near the MA50. This plan allows for a potential rebound while respecting the prevailing downtrend.
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