Nov. 14 at 4:10 AM
$WLK is currently trading at
$64.91, significantly below its 30-day moving average (MA30) of
$73.54 and 50-day moving average (MA50) of
$77.33, indicating a bearish trend. The RSI of 17.49 suggests the stock is oversold, which could signal a potential reversal, but caution is warranted given the strong downtrend. The 60-day high of
$92.22 and low of
$62.30 indicate a tight range, with current price near the low end, suggesting limited downside risk.
Suggested entry:
$65.50, slightly above the last close to confirm upward momentum. Stop loss:
$62.00, just below the recent low to limit risk. Targets: First target at
$70.00, aligning with MA30, and a second target at
$73.00, near the MA50.
Overall, while the bearish trend persists, the oversold condition presents a potential short-term reversal opportunity.
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