Nov. 13 at 3:14 AM
$WHD is currently trading at
$43.19, with a high RSI of 76.27, indicating it is in overbought territory. The 30-day moving average (MA30) is at 39.2, and the 50-day moving average (MA50) is at 39.83, suggesting a bullish trend in the short term. However, the high RSI signals potential for a pullback, especially as the price approaches the 60-day high of
$45.18, which could serve as a resistance level.
For a trade plan, consider entering a short position if the price fails to break above
$45.18, with an entry point around
$44.50. Set a stop loss at
$46.00 to manage risk. Target a pullback to the 60-day low of
$33.2, with an initial target at
$40.00, which aligns with the MA30.
Overall, the market context suggests caution due to overbought conditions, and the directional bias leans towards a potential downward correction.
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