Nov. 14 at 3:40 AM
$WMG: The current market context shows a last close of
$30.34, which is near the 60D low of
$29.5, indicating potential support. The RSI at 31.21 suggests the stock is oversold, which could lead to a reversal. The 30-day moving average (MA30) at
$31.92 and the 50-day moving average (MA50) at
$32.59 are both above the current price, indicating bearish momentum in the short term.
Directional bias leans bullish due to the oversold RSI and proximity to support. Suggested entry is at
$30.50, slightly above the last close to confirm buying interest. Set a stop loss at
$29.25 to manage risk. Target 1 is at
$31.00, aligning with the MA30, and Target 2 is at
$31.75, just below the MA50.
This plan aims to capitalize on a potential rebound while managing downside risk effectively.
https://privateprofiteers.com
